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.…
The post Dubai investor accuses ex-Amaya CEO David Baazov of fraud appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.
Source: EEGaming.
Pragmatic Play, a leading content supplier to the iGaming industry, is achieving further expansion in Paraguay and Brazil after signing a multi-vertical deal with Giro Win.
The deal encompasses the supplier’s Slots, Live Casino and Virtual Sports products, bringing its portfolio to an even greater LatAm audience.
Pragmatic Play’s Slots portfolio has seen numerous player-favourite additions in recent weeks that will soon be available for Giro Win’s costumers, including new titles in the iconic Big Bass franchise as well as the renowned John Hunter series. The agreement also includes award-winning staples such as Sugar Rush and Gates of Olympus.
The supplier’s Live Casino content stretches from casino classics such as roulette and blackjack to captivating live game shows such as Sweet Bonanza CandyLand and Snakes & Ladders Live that are also part of the agreement.
Also included is Pragmatic Play’s Virtual Sports, powered by a real-time physics engine and providing life-like renditions of popular sports such as Formula 1, greyhound racing and horse racing, on-demand to sports bettors.
As it further expands across LatAm, Pragmatic Play continues its commercial trajectory and ambitions of delivering fresh content to even more players than ever before.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “With LatAm remaining a source of commercial growth for Pragmatic Play, its latest partnership with Giro Win underpins its ongoing commitment to bringing a dynamic entertainment offering to more consumers in the region.
“Giro Win is an esteemed operator in the Latin American market and Pragmatic Play is proud of this new partnership that will see its Slots, Live Casino and Virtual Sports soon integrated to its platform.”
Hélio Cuevas, Director of Giro Win, said: “Pragmatic Play’s portfolio boasts some of the best games in the industry and it will be a welcome addition to our offering. We have no doubt the response to the large quantity of Slots, Live Casino and Virtual Sports titles that Pragmatic Play offers will match the overwhelming reception they have already experienced worldwide.
“Giro Win and Pragmatic Play share a vision of powering up new possibilities for players and delivering an unmatched experience and we are delighted to now count them as a partner.”
Pragmatic Play, a leading content supplier to the iGaming industry, is set to be in attendance at the upcoming SBC Summit Latinoamérica.
Exhibiting at stands G40 and H40, Pragmatic Play’s leading portfolio of multi-product content will be on display to cement its standing as the leading supplier to the Latin American market.
Pragmatic Play will be a Gold Headline Sponsor of the event, where the team will join attendees at the Seminole Hard Rock Hotel & Casino in Miami from the 31st of October to the 2nd of November.
The conference forms part of its LatAm Mission Itinerary, a campaign to inform delegates across leading industry events how Pragmatic Play can twist, transform, and elevate gaming experiences. Marking Mission #12, the provider’s attendance will be figure-headed by its Spaceman, the main character from its market-leading crash game title.
The Pragmatic Play team will be on hand at its stands to greet both current and potential clients and detail the advancements it has made in the realms of Slots, Live Casino, Virtual Sports, and Bingo.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is thrilled to announce its attendance at the upcoming SBC Summit Latinoamérica and looks forward to welcoming attendees and gaining a deeper understanding of the lively Latin American market.
As Mission #12 in Pragmatic Play’s LatAm itinerary, it has a lot in store for the conference and will reaffirm its commitment to providing new dynamic experiences that allow its partners to excel.”
Pragmatic Play, a leading content provider to the iGaming industry, is celebrating the signing of a new partnership with Starkbet, enhancing its standing across Latin America.
Like many partnerships in the region, this latest tie-up with Starkbet includes three of Pragmatic Play’s popular verticals. Its Slot provision will see players able to enjoy recent releases including Rocket Blast Megaways and Diamond Cascade, as well as a host of award-winning popular hits like Sugar Rush and Gates of Olympus among 300+ quality titles.
The operator’s Live Casino offering will be significantly stronger once the deal goes live, with consistent top-performing titles such as Sweet Bonanza CandyLand and Mega Wheel being available for players along with a comprehensive collection of classic games such as roulette and blackjack.
Pragmatic Play’s Virtual Sports titles which offer a wide range of realistic games to complement real-life sporting schedules also form part of the new deal. Products like Force 1 and Horse and Greyhound Racing are among the sports soon to be available, giving bettors on-demand opportunities to enjoy a large selection of bet markets.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “It’s a pleasure to welcome the Starkbet team on board as Pragmatic Play’s latest partner in Latin America. It’s another fantastically strong brand that we’re delighted to see Pragmatic Play bringing its content to and we’re sure the relationship is going to work out incredibly well for both parties.”
Henry Berger, CEO at Starkbet, said: “Starkbet has always been a popular choice for LatAm players and that will be even more true now we will have content from Pragmatic Play in our portfolio. Its games are among the most requested among our players and we’re going to able to offer them so much more as a result of this agreement.”
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