Along with its recent release of its first quarter trading report for 2017, Amaya, Inc.’s governance has proposed changing the company name to The Stars Group, Inc. The company, listed on the Toronto Stock Exchange, has had a busy Q1 and there is even more in the pipeline. Governance also explained that, following the name change, the organisation will still operate under the laws of Toronto’s Business Corporation Act. The Q1 report showed increased revenues in all areas, with the company reconfirming its full year 2017 financial guidance ranges.
Chief Executive Officer Rafi Ashkenazi commented that Amaya, Inc., had continued its momentum in the first quarter, as they executed their strategy for diversified and sustainable growth. He went on to say that the company is also growing through corporate initiatives. The initiatives and activities that Amaya’s governance is involved in have certainly kept its members busy throughout the first quarter of 2017.
In addition to proposing a name change, which will be voted on at the upcoming annual shareholders’ meeting, a new Chief Financial Officer is to be appointed and a new Chief Corporate Development Officer has just taken up his responsibilities.
Current Chief Financial Officer Daniel Sebag is leaving the company still known as Amaya, Inc., and once the executive search for a replacement is concluded, the head office will be moved to Toronto, Ontario. While there are considerable confidentiality efforts around the new candidates and appointments, these seem to be in keeping with the company’s protocol rather than indications of anything untoward. It is true that original Chief Executive Officer David Baazov is leaving under something of a suspicious cloud following political campaign donations, but Sebag appears to simply be retiring. Board Chairman Divyesh Gadhia thanked him for his 10 years of service and wished him well in his retirement, on behalf of the company.
Robert Chhabra, formerly of William Hill PLC, has been appointed the new Chief Officer of Corporate Development at Amaya, Inc. An industry financing expert, he is to act as growth development leader. In this capacity he will advise governance on asset valuation, expansion strategies and marketing and advertising initiatives. Chhabra will report to Ashkenazi, reflecting the new power players at Amaya (potentially soon The Stars Group) as it continues to assert its redirection. The company, in spite of recent shake ups, continues to hold strong and to develop.