Saturday, October 8, 2016
Amaya Gaming confirms speculation about possible merger
The Boards of William Hill PLC (LSE: WMH) and Amaya Inc. (TSX: AYA, Nasdaq: AYA) note the recent press speculation and confirm that they are in discussions regarding a potential all share merger of equals.
Amaya has been undertaking a review of its strategic alternatives since February 2016. Over recent months, the Board of William Hill has been evaluating options to accelerate William Hill's strategy of increasing diversification by growing its digital and international businesses.
The potential merger would be consistent with the strategic objectives of both William Hill and Amaya and would create a clear international leader across online sports betting, poker and casino.
These discussions are ongoing and there can be no certainty that an agreement will be reached.
After the stock dropped earlier this year based on the insider charges brought against the CEO I said back up the truck and made Amaya my stock of the year, The stock is now up around 35% since April 2016 when I suggested buying it. I will wait and see if this pans out or not over the next few weeks and what kind of terms are publicized.