Canadian Online Gambling Giant Amaya Acquires DFS Site

The Canadian company Amaya is possibly the largest online gaming conglomerate in the world. It continues to pursue a strategy of acquisition and hiving off businesses in order to cash in on the currents trends. Its latest announcement fits in with this strategy. Amaya has reported the acquisition of Victiv, a Texas based daily fantasy sports (DFS) site. DFS is a legal substitute of online gambling in America. It allows players to win real money through the performances of their chosen star players in different sports. Players form a team of real world sports persons and score fantasy points according to set scoring rules. The advantage over traditional fantasy sports is that these contests last just one day so the results are quicker.

Amaya has chosen Victiv because of its user-friendly and innovative software for fantasy sports enthusiasts. In has facilities like the Bankroll Builder feature that allows new players the chance to learn the game in a risk-free environment. There are also free-to-enter contests in which new players can display their sports knowledge and win cash without having to deposit funds. The site will be rebranded as StarsDraft but will be managed by the current Victiv team. This will not be a problem because Victiv is just a year old. The activity will be initially launched in select U.S. markets and later added to the PokerStars platform, which is one of the biggest Amaya products. Data has shown that there is a strong crossover between fantasy sports and online poker.

Matthew Primeaux, CEO of Victiv, elaborated on the acquisition. He stated that Victiv’s innovative platform and experienced management perfectly complement Amaya’s expansive consumer base, operational excellence and global brand equity. About PokerStars he said, “PokerStars is the most-trusted brand in online gaming and brings unmatched security, customer support and technical infrastructure that we believe all players can rely on.”

Earlier Amaya had announced the completion of the sale of its subsidiaries Chartwell Technology and Cryptologic to the NYX Gaming Group for $110 million in cash and $40 million in shares. Amaya had bought these two companies a few years ago. A subsidiary of Amaya will enter into a supplier licensing agreement with NYX for procurement of casino gaming content. This real-money casino offering will be integrated into the PokerStars and Full Tilt branded casino websites. Baazov, CEO of Amaya, said, “We are very proud to have created substantial value in these businesses and to return that value to shareholders. With our B2B businesses now divested, we can focus on our consumer online gaming operations and enhancing shareholder value through deleveraging.”

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