MONTREAL, Oct. 18, 2016 /PRNewswire/ - Amaya Inc. (NASDAQ:
AYA; TSX: AYA) today said that the Special Committee of independent
directors of Amaya's Board has announced the completion of its
strategic alternatives review. Following an extensive review, upon
the unanimous recommendation of the Special Committee, the Board
concluded that at this time remaining as an independent
publicly-traded corporation best positions Amaya to deliver
long-term shareholder value.
In response to press speculation, Amaya and William Hill PLC
(LSE: WHM) recently announced they were in discussions regarding a
potential all share merger of equals. Those discussions have
concluded, and Amaya and William
Hill have determined that they will no longer pursue the
merger. Amaya wishes the best for William
Hill and its shareholders.
"Amaya is a strong and growing company with experienced
management and a proven strategy to deliver profitable growth and
shareholder value," said Divyesh (Dave)
Gadhia, Chairman of Amaya. "Together with our
financial advisors, we evaluated a wide range of strategic
alternatives to maximize shareholder value and have concluded that
remaining an independent company is in the best interest of Amaya's
shareholders at this time. The Board has full faith in Amaya's
management to execute on its strategy and objectives."
Amaya plans to announce preliminary results for the third
quarter ended September 30, 2016 and
provide full year guidance for 2016 later today prior to the
opening of the Toronto Stock Exchange and Nasdaq. For
clarifications of certain inaccuracies contained in an open letter
from a William Hill shareholder to William
Hill's board of directors, please visit Amaya's website at
www.amaya.com.
Amaya has been informed by its former Chief Executive Officer,
David Baazov, that he continues to
be interested in acquiring all of the outstanding shares of
Amaya. The Special Committee has not received an offer from
Mr. Baazov that it or its advisors believes is capable of resulting
in a completed transaction. Accordingly, while the Board will
consider any bona fide offer that Mr. Baazov or any other party may
make, Amaya's review of strategic alternatives has concluded.
About Amaya
Amaya is a leading provider of technology-based products and
services in the global gaming and interactive entertainment
industries. Amaya ultimately owns gaming and related consumer
businesses and brands including PokerStars, Full Tilt, BetStars,
StarsDraft and the PokerStars Championship and PokerStars Festival
live poker tour brands (incorporating the European Poker Tour,
PokerStars Caribbean Adventure, Latin American Poker Tour and the
Asia Pacific Poker Tour). These brands have more than 103 million
cumulative registered customers globally and collectively form the
largest poker business in the world, comprising online poker games
and tournaments, live poker competitions, branded poker rooms in
popular casinos in major cities around the world, and poker
programming created for television and online audiences. Amaya,
through certain of these brands, also offers non-poker gaming
products, including casino, sportsbook and daily fantasy sports.
Amaya, through certain of its subsidiaries, is licensed or approved
to offer, or offers under third party licenses or approvals, its
products and services in various jurisdictions throughout the
world, including in Europe, both
within and outside of the European Union, the Americas and
elsewhere.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
applicable securities laws, including, without limitation, certain
expectations and projections as it relates to Amaya's future
strategy as an independent company following the Special
Committee's decision to conclude the strategic alternatives review
process. Forward-looking statements can, but may not always, be
identified by the use of words such as "anticipate", "plan",
"continue", "estimate", "expect", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"would", "should", "believe", "objective", "ongoing" and similar
references to future periods or the negatives of these words and
expressions. These statements, other than statements of historical
fact, are based on management's current expectations and are
subject to a number of risks, uncertainties, and assumptions,
including market and economic conditions, business prospects or
opportunities, future plans and strategies, projections,
technological developments, anticipated events and trends and
regulatory changes that affect Amaya, its customers and its
industries. Although Amaya and management believe the expectations
reflected in such forward-looking statements are reasonable and are
based on reasonable assumptions and estimates, there can be no
assurance that these assumptions or estimates are accurate or that
any of these expectations will prove accurate. Forward-looking
statements are inherently subject to significant business,
regulatory, economic and competitive risks, uncertainties and
contingencies that could cause actual events to differ materially
from those expressed or implied in such statements. Other
applicable risks and uncertainties include those identified
under the heading "Risk Factors and Uncertainties" in Amaya's
Annual Information Form for the year ended December 31, 2015 and "Risk Factors and
Uncertainties" and "Limitations of Key Metrics and Other Data" in
its Management's Discussion and Analysis for the three and six
months ended June 30, 2016, each
available on SEDAR at www.sedar.com, EDGAR at www.sec.gov and
Amaya's website at www.amaya.com, and in other filings that Amaya
has made and may make with applicable securities authorities
in the future. Investors are cautioned not to put undue reliance on
forward-looking statements. Any forward-looking statement speaks
only as of the date hereof, and Amaya undertakes no obligation to
correct or update any forward-looking statement, whether as a
result of new information, future events or otherwise, except as
required by applicable law.
SOURCE Amaya Inc.