Gaming company Amaya Gaming has said that it is cooperating with Canadian authorities in relation to an investigation into its $4.9 billion (€4 billion) purchase of online poker company PokerStars earlier this year.
A report by the Forbes news service said the company’s Montreal headquarters were raided by the federal Royal Canadian Mounted Police and the Financial Markets Authority (AMF) on Wednesday.
Amaya said the raid relates to trading activities in securities surrounding its acquisition of Oldford Group, the parent company of Isle of Man-based Rational Group which controls PokerStars and Full Tilt Poker, in August 2014.
The firm, in a statement, said: “To the corporation’s knowledge, this does not involve any allegations of wrongdoing by the Corporation.
“Amaya will continue to cooperate, if and as requested, consistent with our practice to always cooperate with regulatory authorities.”
“The investigation has had no impact on Amaya’s business operations, employees or companies.”
The Forbes report added that the police operation was part of an investigation that involves a number of other companies such as the financial services firms Canaccord Genuinity and Manulife Financial.
Shares of Amaya have soared by 340% in 2014, largely as a result of its purchase of the owner of PokerStars.
The deal was initially announced in June, although Amaya released a statement titled ‘Amaya comments on trading activity’ on May 26, after its share price had risen to 10.55p from 5.89p on April 15.
source : www.igamingbusiness.com
