Baazov commits to Amaya bid as investor denies involvement

David Baazov, former chief executive of Amaya, has said he still plans to buy the company that owns PokerStars, despite an apparent supporting investor denying involvement.

Earlier this week, Kalani Lal, chief executive of KBC Aldini Capital, told the Globe and Mail newspaper that the company is not part of the bid, despite having been cited as a supporter in various media reports.

Baazov named KBC and three other investors in a filing with the US Securities and Exchange Commission (SEC) as companies that would support the bid for his former employer, with the offer valued at approximately C$3.65 billion (€2.56 billion/U$2.70 billion).

However, Lal said that his company had not agreed to provide funds for the offer, adding that he had filed a complaint with the SEC.

“I don't know who Amaya is; we have not given any commitment, nor have we had any discussions or any type of verbal communication,” Lal said.

Shares in Amaya initially fell after the Lal’s comments were published, although Baazov, who already owns approximately 17% of Amaya, responded with a statement in which he said he is now seeking to obtain alternative funding.

According to the Reuters news, the statement said: “Baazov intends to obtain replacement financing and still currently intends to acquire Amaya on the terms previously disclosed by him on November 14, 2016.”

Amaya also issued its own response to the news, saying that it would “carefully assess” Baazov’s proposal, but would issue no further comment at this time.

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