The digital entertainment powerhouse, formerly Amaya, renowned for its ownership of prominent platforms such as PokerStars and BetStars, has formally transitioned its brand identity to Stars Group. This strategic maneuver, ratified by stakeholders earlier in the year, is accompanied by a revitalized logo, a redesigned online presence, and a headquarters shift from Montreal to Toronto. The corporation asserts that this signifies a period of renewed expansion, particularly following a robust year characterized by an approximate 10% overall surge and a Q1 2017 online poker revenue stream of $218.1 million.
Nevertheless, certain observers posit that the rebranding constitutes an endeavor to disassociate the enterprise from its contentious history, specifically its former chief executive, David Baazov. Baazov, who spearheaded the company for numerous years, is presently subject to an inquiry concerning allegations of insider trading pertaining to the $4.9 billion acquisition of Rational Group in 2014.
Although Baazov conveyed an inclination to take Amaya private earlier this year, those intentions were swiftly abandoned after Quebec’s securities regulatory body, the Autorité des marchés financiers, apprised him of their ongoing investigation.
Concurrent with the rebranding and relocation initiatives, Stars Group is also witnessing fresh capital infusions, notably from Hong Kong entrepreneur, Tang Hao, who is projected to augment his ownership in the company to surpass 15%.