The online gambling behemoth Amaya Inc. officially announced that it had finalised the process of rebranding. The company has previously revealed the planned change of its corporate name and is to now continue working as The Stars Group Inc.
The Canadian online gambling giant also revealed that it has successfully moved its headquarters from Montreal to Toronto.
The planned name change is the reason why the company is to operate under a new corporate logo. A new company website was also launched.
Local regulatory authorities have also given it the necessary approvals, so that all common shares of The Stars Group are to be traded under the “TSG” symbol on the Nasdaq Global Select Market and under the “TSGI” symbol on the Toronto Stock Exchange from the market opening on August 1st.
As it came to our knowledge, the rebranding and head office relocation announcement comes at the same time when the insider Hao Tang has been boosting his stake in the Canadian gaming giant over the past two weeks.
Apart of the rebranding and its heaquarters relocation, the The Stars Group further revealed that it is to release its financial results for the second fiscal quarter, which ended on June 30th 2017. The report is set to be published prior to the start of trading on August 9th.
It was in May 2017 when the iGaming giant officially confirmed its plans to rebrand and relocate its head office to Toronto. This happened after the online gambling giant revealed its financial results for the first three months of the current fiscal year, saying they exceeded initial analysts’ expectations.
After the name change, The Stars Group is to remain focused on operating its gaming and related customer brands and businesses. Currently, the Group is known as one of the leading iGaming operators on a global scale and owner of a number of reputable brands, including PokerStars, BetStars, Full Tilt and StarsDraft. As the company itself has announced, its brands together currently have over 111 million registered customers on a global scale. In addition, they are known as the leading ones on the international poker area, being some of the most-respected poker business in the world and featuring some of the largest and most popular poker competitions.
And still, considering Amaya brand’s success, what was the reason why the company has decided to change its name to The Stars Group Inc.? As the online gaming giant has previously revealed, the new name is likely to more accurately reflect the significance of its flagship brand PokerStars. However, according to analysts, the rebranding decision could have come as an attempt of the gaming behemoth to dissociate itself from its ex Chief Executive Officer David Baazov, whose previous actions have resulted in various image problems for the company over the past year.
On the other hand, the planned head office move to Toronto has been considered as a step that would help the iGaming giant to manage its business and affairs more effectively.
- Author
Olivia Cole
