Amaya Inc to be Soon Renamed The Stars Group Inc, Company Posts Strong Q1 Results & Appoints Indian-Origin Robin Chhabra as Chief Corporate Development Officer
May 13, 2017, 17:16:27
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World’s biggest online poker company PokerStars recently announced strong Q1 reports leading to a spike in their stock prices. This news comes in at the time when the gaming giant is making several big changes in its structure starting with the appointment of experienced online gaming executive Robin Chhabra who is slated to join the organization in September this year as the Chief Corporate Development Officer.

The group company is also changing its name from Amaya Group Inc to “The Stars Group Inc.” and awaiting approval from shareholders. Furthermore, its headquarters will be moved from Montreal to Toronto.

Amaya Inc. CEO though did hint on a possible delay in the launch of PokerStars India operations. The launch was earlier expected to be in sometime early 2017 but has now been delayed by at least one or two quarters.


Amaya Inc Announces Strong Q1 Results

According to a recent publication, Amaya Inc. stock was trading 3.20% up over its previous day’s close due to the strong Q1 results announced by the company.

The group`s first quarter revenues stood at $317.3 million which is a 10% increase over last year. Additionally, adjusted net earnings per share jumped from $0.10 for the quarter ended on March 31, 2016 to $0.56 of this year’s quarter.

Amaya’s revenue provides proof for a prior claim that the company may be focusing lesser on its poker platform and more on its real-money online casino ventures as well as its growing sports book.


Amaya Changes its Name and Relocate its Headquarters

PokerStars’s parent company Amaya Inc. recently announced that it is soon going to be renamed as The Stars Group Inc. and move its headquarters from Montreal to Toronto.

CEO Rafi Ashkenazi said the company is making the changes as it continues to grow and alter its gaming mix.

The changes will be implemented after shareholders give their approval next month and the company will go ahead in moving its headquarter after a replacement for its Chief Financial Officer is found. It is reported that company is in the final stages of finding a successor for their current CFO Daniel Sebag who has already announced his retirement.

"As we undergo this transformation, we look to embrace the future of our business while also recognizing the incredible consumer goodwill and loyalty associated with our primary brand,"he quoted to tbnewswatch.


Robin Chhabra To Lead and Oversee Amaya’s Corporate Development Functions

In another important development, Amaya Inc. announced the appointment of Robin Chhabra forits newly created position of Chief Corporate Development Officer. Chhabra will lead and oversee the company’s corporate development function and will report directly to CEO Rafi Ashkenazi. The organization expects Chhabra to join after a brief leave from William Hill in September 2017.

Indian-origin Chhabra who holds a BSc (Econ.) degree from London School of Economics and Political Science is an experienced online gaming executive. He has been positioned as Group Director of Strategy and Corporate Development for William Hill and as Director of Corporate Development for Inspired Gaming Group plc.

Ashkenazi shared his excitement on the new appointment and stated"Robin Chhabra's deep industry experience and vast professional network will help us pursue our ongoing strategic priorities, as well as drive growth through potential strategic and other opportunities. Robin is one of the most respected executives in the industry and we are excited to add him to our team where he will complement our existing executive management talent."

Chhabra’s arrival is the latest management addition to Amaya, following the recent hiring of Bo Wänghammar as Managing Director of PokerStars Casino and Zeno Ossko as Managing Director of BetStars, alongside the promotion of Guy Templer as Chief Operating Officer of Amaya’s brands.

Robin Chhabra

                                    Robin Chhabra


PokerStars India Launch Delayed

PokerStars has decided to delay its plans to launch the Indian platform of the brand by at least one or two quarters. Amaya Group CEO Rafi Ashkenazi commented on the same stating that the company hopes to launch its Indian variant sometime in the last two quarters of 2017.

Ashkenazi stated that the company views India as a potential market and they view the market positively however he went on to add that he does not expect the country to contribute significant revenues this financial year.

PokerGuru had reported about the online giants plans to enter Indian markets with its own platform by early 2017 and company had started discussing with local partners in India for potential collaborations as well.

Related Articles:

1. PokerStars Now Offers Omaha Spin & Go`s

2. PokerStars Testing New Poker Variant – Power Up

3. PokerGuru Feature: Heads-up with Newly Anointed PokerStars India Team Pro Aditya Agarwal

4. PokerStars Looking to Start a New Online Poker Site in India By Early 2017

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