21
OCT
Amaya Gaming Group’s Potential Sale of Cadillac Jack Subsidiary

Amaya Gaming Group’s Potential Sale of Cadillac Jack Subsidiary

Written by: Emilija Zivulovic on 21/10/2014 13:10

Amaya Gaming Group is exploring the possibility of selling its Cadillac Jack subsidiary, which produces slot machines and bingo games for casinos.

Cadillac Jack is a Georgia, US- based gaming company that creates and supplies different types of gambling games as a subsidiary of Amaya.

Earlier this summer Montreal-based Amaya took over the Rational Group, an operator of online casino PokerStars, for $4.9 billion, as a direct response to several US states picking up the pace on legalizing online gambling. Amaya will consider various alternatives for the Cadillac Jack business with an obvious goal of maximizing value for Amaya shareholders.

"In light of recent consolidation within the gaming machine supplier industry, we believe that this is an appropriate time to review and evaluate potential strategic alternatives for Cadillac Jack," said Amaya's Chief Executive David Baazov in a statement.

Cadillac Jack has over 165 games and over 13,000 land based gaming machines, most of which generate the revenue for the company as they were installed on a participation agreement basis with casinos. Amaya’s share price doubled over the last six months after news of the PokerStars deal emerged. 

Categorised Under: Bingo News,
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