In a recent interview with Reuters, CEO of the Stars Group (previously known as Amaya), Rafi Ashkenazi, said, that if necessary, the company could raise up to $2.5 billion to fund acquisitions. The Stars Group has about $255 million of cash and diminished its debt by $515 million in the last one year, giving it enough leverage to turn acquisitive.

The Reuters article additionally stated that the Stars Group, which own and operated PokerStars – the world’s largest online poker portal – anticipates poker to continue to be its biggest revenue generator over the next five years as the company is looking to infuse money to expand its fast-growing online casino and sports betting businesses.

While Ashkenazi didn’t disclose which are the companies involved, The Stars Group tried unsuccessfully to acquire William Hill one year ago. Ashkenazi said he is in the thought of buying either one big company or three to five small-to-medium companies. Ashkenazi took over reins of the online gaming and betting company last year following David Baazov’s departure after being accused with insider trading.

Latter week, the company posted a third-quarter profit that increased six-fold, helped by strong performance across its three verticals. As Pennsylvania looks to expand online gambling, Stars is intending to secure a license with a partner in one of the state’s 12 casinos over the following few months, Ashkenazi said.

Rafi Ashkenazi
Rafi Ashkenazi

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