Amaya To Spin Off Lottery And Games Subsidiary

AMAYA TO SPIN OFF LOTTERY AND GAMES SUBSIDIARY

26th March, 2015 at 21:25:39
Source: http://www.azonlinecasinos.com

Following an IPO, the new Innova Gaming will hold Diamond Game Enterprises.

The Montreal-based online gambling group Amaya Gaming has announced that it is to spin off its Diamond Game Enterprises subsidiary through an initial public offering of the newly formed Innova Gaming Group.

Amaya acquired Diamond Game Enterprises last year for US$25 million (see previous reports), a company which designs, develops, produces, markets and services games, systems and tickets for the North American gaming industry, predominantly for the business to government (B2G) lottery sector.

The Innova offering is being made through a syndicate of underwriters led by Canaccord Genuity, and the new company will hold all the shares of Diamond Game as part of Amaya's strategy to divest its non-online gaming operations.

The Offering contemplates a treasury offering of common shares by Innova and a secondary offering of common shares by Amaya, which will receive the net proceeds for the common shares sold by it under the Offering. The preliminary prospectus is still subject to completion or amendment.

Related News Tags: ,



« News index »



WATCHANDWAGER LAUNCH INTERNATIONAL ADW PRODUCT

27th March, 2017 at 13:46:09
ADW on international horse races for US customers.

WEST VIRGINIA ONLINE GAMBLING BILL MEETS EARLY OPPOSITION (Update)

25th March, 2017 at 08:38:18
HB3067 faces political and time constraints.

MORE DETAILS ON COSTA ONLINE GAMBLING LEGALISATION BILL IN PENNSYLVANIA (Update)

21st March, 2017 at 21:54:56
Senator Jay Costa introduces his bill SB524 with the support of three other senators.

PADDY POWER BETTING SEEKING HEAD OF TRUMP BETTING CANDIDATE

20th March, 2017 at 19:52:51
Three month contract requires a special type of person.

BODOG SIGN LATAM SPORTS SPONSORSHIP

20th March, 2017 at 15:15:56
With American football club.