Nasdaq listing will ease investor concerns about an ongoing investigation into Amaya by the Quebec regulator that is financial.
Amaya Inc was approved for detailing regarding the Nasdaq Global Select Market and expects to begin trading on June 8 under the AYA ticker symbol, the company announced this week.
The team has traded on the Toronto Stock exchange since 2013, but Amaya feels that the Nasdaq listing will express a step up into the big leagues, befitting its newfound status as a gaming giant that is global.
It will also help to assuage concerns about an ongoing investigation by the Montreal financial regulator, Autorité des Marchés Financiers (AMF).
Amaya’s share costs took a temporary hit when its Canadian offices were raided in December included in a probe into alleged improper conduct in the lead up to your company’s $4.9 billion takeover of PokerStars.
In the full weeks before the acquisition announcement the company’s share price almost doubled, leading to suspicions of insider trading.
In accordance with search warrants and affidavits released from a publication ban by a Quebec judge, the AMF was granted approval to confiscate computers and electronic security products from three staff members whoever names have been redacted from the document.
Amaya has emphasized that it is cooperating fully with the investigation and it fully expects to be cleared of any wrongdoing.
‘The company is confident that at the conclusion regarding the research the AMF will visited the same conclusion as Amaya has; that if there were violations of Canadian securities rules, they were maybe not committed by the business, officers or directors,’ it stated in an official statement recently.
Court documents expose that AMF was interested in 20 individuals variously employed at Amaya, Manulife Securities Inc and Canaccord Genuity Corp.
The latter two businesses facilitated the offer between Amaya plus the Oldford Group, the parent company of the Rational Group, which owns PokerStars.
It is known the AMF launched its investigation after being contacted by whistle-blowers.
Nasdaq Listing a Vindication
‘The Nasdaq Global Select Market is Nasdaq’s top-tier trading platform, created for public companies that meet the highest of quantitative and qualitative listing requirements, related to, among other things, financial condition, liquidity and corporate governance practices,’ emphasized the organization this week.
‘Our listing on Nasdaq is an important milestone for Amaya and a testament to the tremendous progress we have made over our five years being a general public company,’ included Amaya chairman and ceo David Baazov. ‘ We anticipate that the Nasdaq listing provides greater visibility and better liquidity for the stock and help broaden our shareholder base.’
Amaya recently released Q1 figures of CAD$340.1 million ($283.5 million), representing a 2,549 percent increase on revenues from Q1 2014.
Paul Phua Wins Hand with Judge’s ruling that is latest in Sports Betting Case
Paul Phua will indeed be a delighted guy if prosecutors decide on Friday to dismiss all charges against him as a result of not enough admissible evidence. (Image: youtube.com)
Paul Phua, the poker player and wealthy businessman that is malaysian of masterminding a multimillion dollar World Cup recreations betting ring from inside the grounds of Caesars Palace, may walk free on Friday.
After a federal judge dismissed all the remaining evidence against him, prosecutors in the case now have till noon the next day to decide whether to press ahead using the instance with without any admissible evidence, or merely drop all fees.
The almost all evidence against Phua, that was gathered by the FBI during a controversial sting operation, had been tossed by US District Judge Andrew Gordon last month when he ruled that the operation had violated Phua’s Fourth Amendment rights.
The FBI instructed staff at Caesars Palace in Las Vegas last July to shut off the wireless access to three luxury villas while they posed as repair technicians to be able to gain access and evidence that is collect.
One of many villas, not Phua’s, ended up being described by agents as being a ‘high technology wire room,’ where World Cup bets from around the globe were allegedly being processed using a network of computers. Six members regarding the combined team were afterwards arrested, including Phua’s son Darren, and they will have all since pleaded guilty and received fines and probation.
The judge ruled that the ruse have been illegal and in addition that the FBI had duped a judge that is magistrate granting a search warrant by not disclosing the full details of its plans.
‘Permitting the government to generate the need for the occupant to invite a alternative party into their or her home would effectively allow the government to conduct warrantless searches of most residences and resort rooms in America,’ Gordon penned in his April decision, as he dismissed evidence obtained from Phua’s own villa.
‘No More Evidence’
Undeterred, the prosecution pressed ahead, confident that the residual evidence was ‘more than sufficient to sustain’ a conviction, and added a conspiracy indictment to the prevailing felony counts in order to have a better possibility of a successful prosecution.
The added charge meant that prosecutors would now simply have to prove that Phua was conspiring with the group arrested last summer. However, now that the evidence from all three villas has been tossed, they might struggle.
Phua’s lawyer David Chesnoff, whose team demanded that remaining evidence be tossed underneath the of a poisoned tree,’ stated: ‘This squarely sends the message that illegal searches will not be tolerated within the district of Nevada.
‘There’s no more evidence from anywhere,’ he added.
The prosecution has also contended that Phua, a former macau junket operator, has links to the notorious 14K Triads, an allegation Phua denies.
Rick Santorum and George Pataki Latest GOP Hopefuls to Oppose Online Gambling Expansion
Rick Santorum and George Pataki, two brand new GOP hopefuls for 2016, aren’t only joining the other candidates that are republican search https://myfreepokies.com of the party’s solution, but also in their anti-online gambling views. (Image: cbsnews.com)
GOP hopefuls Rick Santorum and George Pataki are the modern members of the Republican Party to throw their hats in to the ring for the 2016 presidential competition, and just like the other six contenders who have officially announced their candidacy, both previous lawmakers are against continued legalization of gambling and iGaming.
Santorum, a former senator from Pennsylvania, and Pataki, the 53rd governor of New York, stressed less government, a reduced nanny state, and other conservative policies in speeches this week.
‘Working families do not need another president linked with big money,’ said the 57-year-old Santorum at a factory outside of Pittsburgh in Cabot, Pennsylvania. ‘I am proud to face right here for you, the American workers who have actually sacrificed so much, to announce that I am running for president. among you and’
In an address to supporters in New Hampshire, Pataki, 69, said the policies he implemented in ny while governor from 1995-2006 were successful.
‘After 12 several years of my conservative policies, we replaced dependency with opportunity, resignation with hope, mere existence with goals, a welfare check having a paycheck. I am aware we can do the same thing for the usa,’ he declared.
Less National, Except for Gambling
Two regarding the founding tenets of the Republican Party consist of less government oversight and free market capitalism, and nearly most of the GOP hopefuls for the 2016 presidential election echo those sentiments. There is, however, one exclusion, that being where gambling and Internet betting are concerned.
It says would better serve ‘we the people,’ as doctors and patients should decide which plan is best instead of government when it comes to healthcare, the party line supports an open market that. But regarding selecting whether to play online poker or blackjack, most GOP candidates appear to go toward legislation, government oversight, or a downright ban.
It’s a instead firm stance that certainly seems to stay contradiction of the party’s basic platform.
During his 2012 election campaign, Santorum had this to Las Vegas Sun reporter Jon Ralston:
‘Freedom’s not absolute… There are limitations. You might want to state the same thing about a whole selection of other items that are on the net, ‘let everybody have it, let everybody get it done.’ No. There are certain things which in fact do cost people a lot of money, cost them their lives, cost them their fortunes that we have tonot have and make available… this is exactly why we control gambling. You have big payment right here that regulates gambling, for a explanation.’
Pataki stocks Santorum’s concerns, and even supports RAWA, the bill supported by casino billionaire Sheldon Adelson that will ban online video gaming. At a Coalition to prevent Internet Gambling meeting in Pataki voiced his qualms with iGaming february.
‘They have said it’s going to be extremely difficult if you don’t impossible to monitor this,’ Pataki said. ‘ Changing the law that was in effect for 20 years simply by a ruling of the Department of Justice, this is not in the American people’s interest that is best.’
GOP vs. Hillary
The leading favorite for the Democratic ticket unless Hillary Clinton makes a colossal mistake or something nearly criminal comes to light regarding her campaign, she is without question. That means it will be Hillary vs. a big field of conservatives vying for the chance during the White House.
Though Democrats aren’t universally in favor of gambling expansion, and Clinton actually voted in favor of this SAFE Port Act and Internet that is unlawful Gaming Act of 2006, bills that prohibited on the web betting, the GOP constituents seem more adamantly opposed.
That’s one thing many gamblers will have to simply take into account come primary season, along with, of course, other pressing issues that affect our daily life.