After the series of charges during the past two years Baazov is trying to “get rid” of Amaya
The founder and former chief executive of Amaya, David Baazov, sold around 12 million shares of the company for EUR 188.3 million, report gambling news. Baazov is constantly decreasing his presence in Amaya. After the currently sold shares he has only 3.8% overall share holding in the company. Last month Baazov sold 7 million shares in Amaya which reduced his stake in the company to 11%.
Withdrawal after too many charges?
The case of Baazov is already well known in the gambling world. While chief executive of Amaya Baazov was charged for illegal insider trading, report online gambling sites in the EU. The Autorité des marchés financiers from Quebec, has later revealed that the charges included stock manipulation in the purchasing operation of PokerStars by Amaya.