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Amaya Gaming’s Cadillac Jack and Additional Asset Sales Likely to Fetch Lofty Valuations

August 4, 2023
in Trade Tube
Reading Time: 1 min read
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Consistent with its effort to shift to the Web, Amaya Gaming Group Inc. is considering unloading additional business-to-business assets, including its Cadillac Jack Inc. subsidiary. The worlds’ largest publicly traded online gaming company could fetch up to $500 million for the gaming machine supplier, according to Alliance Securities Inc. analyst Neil Linsdell. After shelling out $4.9 billion for the parent company of PokerStars last year, Oldford Group Ltd.., the expected divestitures will help reduce Amaya’s high-interest debt as the sector continues to garner inflated valuations. The company completed its divestiture of B2B poker business Ongame Network Ltd. to NYX Gaming Group Ltd. during its fourth quarter.

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