Published On: Fri, Dec 12th, 2014

David Baazov’s Amaya confirms probe by Quebec securities regulator

David Baazov,   Amaya Gaming Group
Amaya Gaming Group Inc said late on Thursday that the company and its officers are cooperating with Quebec securities regulator AMF in an investigation regarding trading activities in Amaya securities.

On Thursday, the Royal Canadian Mounted Police and Autorité des Marchés Financiers (AMF) raided the Montreal area offices of Amaya, Canadian investment bank Canaccord Genuity, and insurance firm Manulife Financial regarding the probe.

The Montreal-based company said the probe is related to trading activities in Amaya shares surrounding the corporation’s acquisition of Oldford Group in 2014.

Earlier this summer, Montreal-based Amaya closed on the $4.9 billion takeover of Oldford Group, operator of online gambling website PokerStars, just as several U.S. states have begun to move on legislation to legalize online gambling.

Manulife and Canaccord could not immediately be reached for comment.

Amaya said to its knowledge the probe does not involve any allegations of wrongdoing by the company. It said it will continue to cooperate, if and as requested, consistent with its practice to always cooperate with regulatory authorities.

It said the probe has had no impact on Amaya’s business operations, employees or companies.

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