The operator of PokerStars and Full Tilt Poker, Rational Group, has been bought by Canadian firm Amaya Gaming for nearly $5 billion.
Although the initial deal was announced back in June, the agreement has finally officially gone through after receiving regulatory approval recently. David Baazoy, Amaya’s chairman and chief executive, expressed his delight at sealing the deal with Rational. “We are extremely pleased to have completed this acquisition.”
He also commented how Rational offers multiple online poker sites in the US and across the world. “Through PokerStars, Full Tilt and its multiple live poker tours and events, Rational’s brands comprise the world’s largest poker business, generating diversified and recurring revenues across the globe from its extremely loyal customer base.”
The core of the business will remains the same
Baazoy stated that the core of Rational’s business will remain the same, as most of senior management figures will hold the same position, except for the changes that have already been announced. He believes that “Rational’s success is attributable to the company’s core values of integrity, customer focus, and challenge.”
Rational Group’s founder and chief executive, Mark Scheinberg, highlighted the developments and immense growth since introducing PokerStars to the market. “Since launching PokerStars in 2001 we have grown the business each year thanks to constant innovation, unparalleled customer service, and the talent of our dedicated workforce.”
Gambling news reports that despite being on his way out of the firm, Scheinberg is adamant that the company will flourish in the future. “I’m confident that Amaya, together with Rational Group’s leadership, will continue to successfully grow the business into the future.”