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Dubai investor accuses ex-Amaya CEO David Baazov of fraud

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Dubai investor accuses former Amaya CEO 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.

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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.

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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.

Andrés Tamayo

Pragmatic Play Enhances FullReto Partnership with Virtual Sports Addition

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Pragmatic Play, a leading content supplier to the iGaming industry, has reinforced its commitment to Latin American expansion by strengthening its existing relationship with Colombian operator FullReto.

The latest agreement will see FullReto offer its players a broad selection of Pragmatic Play’s unique Virtual Sports titles, building on an already extensive offering of over 300 Slots and Live Casino games.

Fantastic League, Greyhound Racing, and the thrilling motor racing-themed Force 1 are among the games now available to FullReto customers as the operator looks to capitalise on the rapidly increasing popularity of Virtual Sports to consolidate its position as a leading platform in Colombia.

The multi-product partnership reaffirms Pragmatic Play’s intentions to expand its offering in the LatAm markets, with FullReto now offering a vast catalogue of Pragmatic’s award-winning games across three verticals.

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Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is delighted to reinforce its partnership with FullReto by providing its players with access to its renowned Virtual Sports games. The deal not only emphasises Pragmatic Play’s desire to provide Colombian players with an exciting online gaming experience, but also demonstrates the supplier’s dedication to furthering its Latin American expansion.”

Andrés Tamayo, General Manager at FullReto, said: “FullReto’s continued collaboration with Pragmatic Play highlights our main objective of supplying the optimal player experience. The addition of Pragmatic Play’s Virtual Sports offering, on top of its Slots and Live Casino games, will ensure FullReto players have access to hundreds of fan-favourite games across a variety of verticals.”

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Alonso Huiman

Pragmatic Play Launches Live Casino Offer at Atlantic City

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Pragmatic Play, a leading content supplier to the iGaming industry, has expanded its Live Casino footprint across Peru after going live with major local operator, Atlantic City.

The partnership sees Pragmatic Play’s full Live Casino portfolio integrated with the operator, enabling players in Peru to enjoy market-leading titles such as Blackjack, Roulette, and Baccarat from the supplier’s award-winning portfolio.

This latest agreement showcases Pragmatic Play’s plans for growth in LatAm, exhibiting an array of its verticals across multiple territories in recent months. It is the latest deal signed by Pragmatic Play with a Peruvian operator, following a comprehensive growth strategy in the country.

Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Atlantic City is one of Peru’s most reputable operators and offers another opportunity to showcase the Pragmatic Play Live Casino portfolio in Peru. With an offering that will deliver exceptional gaming experiences to players, this partnership promises to cement Pragmatic Play’s position at the forefront of the Peruvian iGaming industry.”

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Alonso Huiman, Chief of Online Casino at Atlantic City, said: “This landmark agreement with Pragmatic Play is a pivotal moment for us. Its vast selection of table and card games will resonate seamlessly with our player base and we are confident that this will propel our brand to new heights.”

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CGS Santiago

Pragmatic Play to Participate in CGS Santiago

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Pragmatic Play, a leading content supplier to the iGaming industry, is set to participate in CGS Santiago this month, as the provider seeks further inroads across the continent.

The provider is also the standalone Diamond Sponsor at the event, which takes place at Espacio Riesco in the country’s capital, Santiago, on May 29 and 30.

Pragmatic Play is set to attend the event as a renowned actor in the market, for its multi-product offering, comprising Slots, Live Casino content, Virtual Sports, Sportsbook, and Bingo, including fan-favorite titles Gates of Olympus and the popular Blackjack X.

With expo season now in full swing, CGS Santiago marks another conference in the region for the supplier, following its presence at BiS – SiGMA Americas in Brazil, GAT Expo in Colombia, and SBC Summit Rio earlier this year.

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Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Latin America remains a key focus for Pragmatic Play as it gears up to make meaningful connections in Chile, a region full of potential as the iGaming industry continues to evolve in this part of the world. Pragmatic Play is also proud to be a Diamond Sponsor at this year’s expo, showcasing the importance that CGS Santiago represents and the immense opportunities that the two-day event has on offer.”

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