Amaya Shows Its Hand With $5B PokerStars Deal

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June 13 (Bloomberg) -- Amaya Gaming Group surged to a record after agreeing to acquire PokerStars for $4.9 billion, in a deal that creates the largest publicly held online gambling company in the world. Christopher Palmeri reports on Bloomberg Television's "Taking Stock." (Source: Bloomberg)


Christopher palmeri joins us now.

This company is known in the gambling industry, out of nowhere they became the world's largest online poker site.

It is an extraordinary amount of money and exciting development if you want to play poker in the united states.

This is a an all cash deal, where is the money coming from?

Banks and investors.

You have blackstone, deutsche bank, mcquarrie all lending money or buying stock in this alliance.

How do regulators deal with this new entrants into the online gaming industry?

The big issue for poker stars is that it was one of the companies that was taking bets from u.s. players before it was really legalized in the u.s.. the company was entitled -- and i-indicted.

This was an issue for re gulators.

We have sort of gotten an indication from regulators in new jersey saying that they welcome this deal because as -- it is an opportunity for poker players and that state.

Not everybody is going quietly.

Sheldon has been very vocal about lending money to prevent online gaming.

That is one of the biggest challenges for amaya and mgm and other people who are trying to big business of online gaming.

The guy he was the richest in the gaming industry is opposed to list.

He is opposed on moral grounds and business issues.

It will be a fight.

It is not clear whether it will be successful in getting a law passed that outlaws online gambling, but he may be successful in blocking it's in california.

The family of the head of pokerstars doing very well.

His son is 40 years old and holds a great percent, so he will collect 3.5 million -- 3.6 billion in this deal.

What about the allocations of indictment that stand for his father?

The company has settled without admitting wrongdoing.

It is the company's position that it never did anything wrong, and he has not done anything wrong as well.

He has not been to the united states in 20 years, and i cannot imagine he will come anytime soon.

It is something that he may want to settle at some point.

How do you put a valuation on something like pokerstars?

It is a very profitable

This text has been automatically generated. It may not be 100% accurate.


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