Amaya to expand in the Indian market

Amaya Inc. is looking to expand into the Indian online poker market through PokerStars, which will launch in the country later in 2017.

India.- Rafi Ashenazi, Amaya’s CEO, said after the annual shareholders meeting on Wednesday that the company is annalysing an expansion into the Indian online poker market. Amaya already expects PokerStars to launch its offering in the country later in 2017 and its COO is in India to close a partnership deal with another business that has been authorised to operate as well.

As quoted by Casino News Daily, Mr. Ashkenazi said that the increasing popularity of smartphones in India was a key factor to their choice to expand in that specific market, which he described as “an exciting one”. Poker has grown into local players and the online offer has particularly drawn their atention, generating a growth in the investment in the country.

The company is looking to position its online poker offer as a leader in India and will look to expand further into the Asian continent, according to Mr. Ashkenazi, and also in the United States. The company’s CEO said that online gambling is “a big thing” in Asia but they want to enter to its lucrative markets with the right structure and strategy as “that’s what really matters”.

During this week’s meeting, shareholders approved Amaya’s rebranding to The Stars Group, a process that’s expected to be completed in August, along with the company’s head office relocation from Montreal to Downtown Toronto.

Current company authorities aren’t related to founder and former CEO David Baazov, who was accused for insider trading. Even when they come a year after the investigation by the Québec securities regulator Autorité des marchés financiers started, Mr. Ashkenazi said it has nothing to do with it.