Last week there were rumors that Amaya Gaming was going to purchase PokerStars, one of the largest online poker firms in the world and then two days later Amaya Gaming confirmed those rumors. Today details relating towards this deal have emerged.
The $4.9 Billion that Amaya Gaming is spending to purchase PokerStars is being spread out across multiple sectors at PokerStars. $2.1 Billion of the $2.9 Million is being used to finance the senior secured credit facility. $800 Million will then be used towards second lien term loans, $1 Billion is being put towards preferred shares, $460 Million will be used for subscription receipts and the other $540 Million will be in cash. Isai and Mark Schienberg, the owners of PokerStars also revealed that they will be leaving the company and all other employee’s will keep their positions at the poker firm.
The Amaya Gaming CEO, David Baazov stated the following: “Mark and Isai Scheinberg did more than just provide online gamblers with an incredible online poker experience. They pioneered the online poker industry, showing every other developer in the industry how an online poker service should be developed. They also pioneered quality customer service and online security within the online poker industry. Working alongside these experiences individuals has allowed for Amaya Gaming to gain an essence of how we should operate PokerStars and we now have full confidence that we will be able to keep up the incredible experience players know and love. We look forward to running PokerStars and seeing where it takes us as an operator.”