PokerStars owner could raise up to USD 2.50 billion for M&A, according to the CEO
PokerStars owner Stars Group Inc could raise up to $2.50 billion to fund acquisitions if needed, Chief Executive Rafael Ashkenazi said in an interview on Monday.
The CEO took over reins of the online gaming and betting company last year following David Baazov’s departure and he is now looking for ways to expand the company previously known as Amaya, Reuters said.
Stars Group has about USD 255M of cash and reduced its debt by USD 515M in the last one year, giving it enough leverage to turn acquisitive.
Although talks are already underway, Ashkenazi did not name the companies involved. “I am looking at buying either one big company or three to five small-to-medium companies,” he detailed.
Last week, the company posted a third-quarter profit that increased six fold, helped by strong performance across its three verticals.
BetHog: "With AI dealers you can have your own personal dealer, something that only ultra high rollers have today"
"Latin America rewards operators who approach it with discipline: understanding nuances between markets and investing for the long-term"
"The next 12 to 24 months will reveal who built a sustainable operation in Brazil and who was simply betting on marketing volume"
Zitro Digital appoints Thiago Valadão as Commercial Director for Brazil
HIPTHER appoints Elena Stepanyatova to lead event content and production across conference portfolio
MGM Resorts posts record first-quarter revenue as profit slips on weaker margins
CT Interactive expands portfolio, boosts Bulgaria presence in April
IDX selected to power 250 gaming tables with X-Trend system at the Westside Resort
Racing and Sports partners with Altenar to enhance global racing offering
Mexico's iGaming market breaks its four-year uptrend
Wazdan earns triple nominations at AffPapa iGaming Awards 2026 for excellence in slots and branding
