Until 10th January this year, very little was known about the Hong Kong-based investor, Tang Hao and his investment in PokerStars. However, a press release from The Stars Group just a few weeks ago revealed that they had entered into an agreement with Tang Hao and his affiliated entity Discovery Key Investments Limited. The business alliance has made Tang Hao the second largest stakeholder in the company.

The announcement did not come as a surprise. Through the entirety of 2017, Hao acquired a large number of shares in PokerStars’ parent company Amaya Gaming (changed to The Stars Group in August last year).

Hao owned Discovery Key Investments has reserved 17.9% of common shares in The Stars Group, amounting to 26,455,200. It is second only to Caledonia Investments Plc who have 29,353,153 shares.

It is noteworthy that individually, Tang Hao is the largest stakeholder in The Stars Group as he has sole proprietorship of Discovery Key Investments. Mr. Hao Tang is a former CEO of Goldenway Capital. In 2016, Goldenway Capital’s keen interest in The Stars Group failed to manifest in a business relationship.

For now, Melvin Yanmin Zhang has been appointed as an observer to the board of directors. This is in accordance with the agreement between The Stars Group and Hao. The arrangement will remain until Hao and Zhang are approved for certain licenses necessary to become board members.

An excerpt from the press release by The Stars Group

We welcome Tang Hao’s significant investment in The Stars Group as one of its largest shareholders, and look forward to Melvin Zhang’s contributions at the board as we continue our focus on expanding into new markets,” commented Divyesh (Dave) Gadhia, Chairman of TSG board of directors.

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