Pokerstars owner’s plan: Raise money for purchases
Pokerstars owner Stars Group Inc. is looking to raise up to $2.5 billion to fund acquisitions, Chief Executive Rafael Ashkenazi said in an interview.
Ashkenazi took over the reins of the online gaming and betting company last year following David Baazov’s departure after being charged with insider trading.
After a name change to better align with its mainstay game Pokerstars and a management reshuffle, Ashkenazi is looking for ways to expand the company previously known as Amaya.
Stars Group has about $255 million of cash and reduced its debt by $515 million in the past year, giving it enough leverage to turn acquisitive.
Ashkenazi said he is looking at buying either one big company or three to five small or medium companies.