iGaming Industry
Dubai investor accuses ex-Amaya CEO David Baazov of fraud
Former Amaya Gaming CEO David Baazov is being sued by a Dubai investor who claims Baazov fraudulently used the investor’s name to build support for an Amaya takeover bid.
On Friday, La Presse reported that KBC Aldini Capital president Kalani Lal had filed a lawsuit in Dubai in January accusing Baazov and his longtime financial services partner Canaccord Genuity of fraudulently using Lal’s name and signature to boost Baazov’s late-2016 bid to acquire Amaya.
Last November, Amaya announced that Baazov, who had parted ways with the company several months earlier to defend himself against criminal charges of insider trading, had made a C$24 per share offer to buy a controlling stake in Amaya and take the company private.
To support his bid, Baazov filed papers with the US Securities Exchange Commission (SEC) stating that he’d lined up $3.65b in financial commitments from four investment firms, including the Dubai-based KBC Aldini Capital.
However, within a week of Amaya’s announcement, Lal informed CalvinAyre.com that “neither KBC Aldini nor any of its related entities are involved in this transaction.” The following day, Baazov retracted his claim regarding KBC Aldini’s involvement, and Baazov’s proposed Amaya acquisition quickly fell apart.
Knowledge of the KBC Aldini lawsuit came via Quebec securities regulator Autorité des marchés financiers (AMF), which brought the insider trading charges against Baazov and two other Amaya-connected individuals in March 2016.
Last December, an AMF investigator contacted KBC’s Lal, who repeated his claim to have never heard of Baazov or Amaya prior to the SEC filings. Lal apparently asked Cannacord to provide him with a copy of the letter allegedly sent by KBC pledging its financial support, but Lal never received a copy.
The AMF report indicates that “KBC’s clientele is predominantly Muslim, meaning that KBC will never invest in a gaming business, otherwise it will lose all its customers.” Lal reportedly received many calls from KBC clients who’d heard about the alleged Amaya connection, and this had caused Lal “a lot of worries.”
Earlier this week, La Presse reported that the AMF’s raids on individuals connected with their Baazov investigation had uncovered a document in which Baazov allegedly agreed to hold the majority of his Amaya shares on behalf of his brother Ofer aka ‘Josh’ Baazov and Ofer’s longtime online gambling business partner Craig Levett. The AMF also claims to have email communications in which Ofer is referred to as Amaya’s real owner.
Baazov’s criminal trial is expected to get underway in November, but if this week is any barometer, we can expect a steady drip of damning information to leak out of the AMF offices in the weeks to follow.
Amaya, the parent company of online gambling giant PokerStars, rebranded as The Stars Group earlier this year, in what was widely viewed as a means of distancing the company from the increasingly negative media narrative surrounding its former CEO.…
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Source: EEGaming.
Supremeland Gaming, the emerging brand in American iGaming, announced the approval of an interim Supplier License in West Virginia, further solidifying its position as a key player in the rapidly expanding iGaming industry. This milestone marks the company’s third approval following the successful acquisition of the first approvals in Pennsylvania and New Jersey.
Supremeland Gaming is approved to operate under this interim license and is now authorized to offer its cutting-edge innovation to the Mountain State.
Supremeland’s game portfolio has garnered international appeal since its debut in November 2023. The innovative brand promises cutting-edge slot play, combining immersive storytelling, state-of-the-art graphics, and impressive bonuses.
Rickard Öhrn, CEO of Supremeland Gaming, said: “The acquisition of our interim Supplier License in West Virginia is a pivotal step in our journey, reflecting on our dedication to delivering innovative experiences to a broader audience. As we expand our footprint, our commitment to excellence remains unwavering, and we look forward to contributing to the vibrant gaming landscape in the Mountain State.”
Supremeland is gaining traction for its emerging portfolio of top-notch games, including Red Panda Rising and the international debut title, Munition Mine, underscoring its commitment to pushing the boundaries of innovation in the iGaming industry.
Pragmatic Play, a leading content supplier to the iGaming industry, is continuing its momentum in the Latin American market, after signing an agreement to take its three biggest products live with Betsala.
The agreement will see Pragmatic Play’s full portfolio of award-winning Slot content go live, including recently released Slot titles Loki’s Riches and The Big Dawgs in addition to familiar player-favourites such as Sugar Rush and Gates of Olympus.
Betsala customers will soon gain access to Pragmatic Play’s Live Casino products upon integration being completed. The sector has been a focus for the provider over the previous 12 months with releases such as the dynamic Treasure Island game show which complements Pragmatic Play’s comprehensive range of casino classics such as Roulette, Mega Roulette, and Blackjack which are also available on the platform.
Completing the product offering is Pragmatic Play’s cutting-edge 3D renderings of popular sports such as horse and greyhound racing, football, and motorsports.
The latest LatAm development for Pragmatic Play sees it further boost its profile across the region where it has cemented its status as a leading supplier of casino experiences.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Proving LatAm is still a key source of growth, Pragmatic Play is delighted to now count Betsala as another valued partner in the region.
“Pragmatic Play’s three leading products will soon be on the platform, and we look forward to even more players discovering its robust and engaging offering.”
Albert Bellavista, CEO at Betsala, said: “Pragmatic Play has built a stellar reputation across Latin America for its high-quality experiences, and we welcome them as our latest partner to bolster our offering and provide more thrills than ever.
“Most iGaming enthusiasts worldwide are already familiar with Pragmatic Play’s titles and we know the upcoming addition of its content will come with a great response from our players.”
Pragmatic Play, a leading content supplier to the iGaming industry, is set to make another appearance at a Latin American summit, at SAGSE LATAM in Buenos Aires.
Taking place across two days from March 20th-21st, the event sees iGaming professionals gather at Buenos Aires’ Hilton Hotel for the 32nd edition of the iconic exhibition.
SAGSE LATAM marks the second summit attended by Pragmatic Play in Latin America in 2024, with its new immersive proposal Pragmatic Play Experience, after an extremely successful exhibition tour in 2023, which saw the provider make inroads across the continent and impress industry representatives.
The gaming provider will be at Stand 120 to showcase its diverse portfolio, including Slots, Live Casino, Virtual Sports and Bingo content, alongside its brand-new Sportsbook solution.
In addition, Pragmatic Play will be a platinum sponsor of the event, highlighting the importance of such industry exhibitions and the vital role the leading provider plays in them.
Victor Arias, VP of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is proud to be a platinum sponsor of SAGSE LATAM and to be influential in shaping the future of the Latin American iGaming market. With a comprehensive multi-product offerings and solutions, it is poised to capitalise on the immense opportunities that the region presents.
“With an exciting range of panel discussions and interactivities that the conference brings, it is set to be yet another momentous date in the LATAM gaming calendar.”
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