Baazov Addresses AMF Probe and New Jersey Question at Amaya AGM

David Baazov, reelected as Chairman of Amaya Inc. Regarding the AMF investigation: ‘It’s not one thing to be taken lightly, but it is not Hollywood either.’

The ongoing scrutiny into Amaya Inc by the Quebec monetary regulator is not an underlying cause for concern, reiterated its CEO and Chairman, David Baazov, during the company’s first annual general conference in Montreal this week.

‘It’s not at all something to be taken lightly, but it’s maybe not Hollywood either,’ Baazov told the assembled shareholders. ‘There was no effect on the day-to-day operations of Amaya. It’s not using away from the mental real-estate associated with the administrator team, the staff, the business, etc.’

The investors displayed their faith in these terms by promptly Baazov that is reelecting as chairman with a majority of 96 percent, although some may have wondered what the deuce he meant by ‘mental real estate.’

AMF Raid

Amaya’s Montreal workplaces were raided by police and provincial market that is financial AMF in early December as part of a investigation into alleged securities fraud.

Amaya’s share prices skyrocketed within the lead up to the company’s acquisition of PokerStars summer that is last and some type of insider trading was suspected.

There were no accusations of wrongdoing by AMF, but the investigation drags on, and its presence remains an embarrassment for Baazov, Amaya and their global ambitions.

‘If individuals have the information carefully, look at the timeline, anybody who is sophisticated and rational can come to quite a conclusion that is rational the activities that occurred to obtain us where we have been,’ stated Baazov.

The research failed to hinder Amaya’s recent ascension to the NASDQ worldwide Select marketplace, which Baazov saw as integral to furthering Amaya’s position as ‘a leading worldwide, online consumer technology company.’ The company has traded on the Toronto Stock market since 2013 and will continue to complete so under a dual listing.

‘We were looking for more liquidity and more exposure,’ Baazov stated, of the business’s new listing. ‘I think it’s great that the company that is canadian started on the Venture [Exchange] graduated to your TSX and it has now visited the NASDAQ too.’

New Jersey Update

Finally, Baazov offered their thoughts on the delayed entry of PokerStars to the New Jersey market.

Early predictions had suggested the poker that is online would be given the go-ahead the year, but unseen regulatory issues be seemingly hindering its progress.

‘We’re offering lots of information showing analytical data, showing responsible gaming data, showing just what technologies are innovated and applied at PokerStars,’ said Baazov. ‘We’re sharing it with other people showing you can have this in a regulated fashion and have that income tax effectiveness while you’re protecting customers as well.’

On PokerStars’ efforts in lobbying for regulation in other key areas, such as for instance Pennsylvania and California, he said: ‘ We do not have a crystal ball, and in terms of politics I definitely don’t like trying to make predictions. All we can say is that we’re very comfortable with some of the movement we’ve seen. If anything, it’s inching towards more and more (workable) regulation.’

NBA Withdraws Opposition to Canadian Sports Betting Reforms

NBA chief Adam Silver is known to likely be operational to the basic idea of legalizing sports betting. (Image:

The NBA has said it will no longer oppose a bill that proposes to revolutionize the Canadian activities landscape that is betting allowing Canadians to bet on solitary activities games.

The league has transformed into the first to officially reverse its stance on Bill C-290, the Canadian Gaming Association (CGA) said this week.

The Criminal Code in Canada has long forbidden its citizens from gambling on single games; rather, they content themselves with putting their cash, at longer odds, on parlay bets via the provincial lottery operators.

These, needless to say, involve wagering in the results of two or maybe more games.

The reasoning is that betting on single games might encourage addiction that is gambling match-fixing.

Proponents associated with bill think that reforms would channel billions in funds into the hands of the lottery that is provincial, instead compared to the huge unlicensed overseas market, which currently caters for Canada’s kinkier betting requirements.

Multi-billion-dollar Gray Market

Presently, single-event recreations betting handle is believed to be over $10 billion each year. According to UK data that are betting Sportradar, over 220 businesses just take bets on National Hockey League games, and around 120 address Canadian Football League games.

Even the Soccer that is canadian League which can hardly be said to have a ‘global reach,’ is included in at least 130 international bookmakers.

The NBA initially stated its opposition as soon as the bill had been introduced in 2012, claiming that C-290 threatened to ‘injure’ the league enjoyed having its fans.

Future fans would ‘never be able to enjoy the game,’ it fretted, because, rather than help a favorite team, they would rather be drawn to ‘the contending interest of the betting line and the money that may be created from it.’

The statement becomes all the more hyperbolic when you consider that Canada has only one NBA team, which indicates the option of loyalties for the average Canadian may be rather cut and dried.

Nonetheless, according to the CGA, which is desperately attempting to push the bill before Parliament breaks for the summer next week, the NBA has changed its tune.

NBA Statement

‘Consistent with all the NBA’s current position regarding legalized sports betting in the usa, the NBA is no further opposed to legalized sports betting in Canada as long as it has an appropriate legislative framework that protects the integrity for the game under strict regulatory requirements and technological safeguards,’ said the NBA, as quoted by the CGA in a hearing associated with Senate of Canada’s Legal and Constitutional Affairs Committee this week.

The statement echoes the shift that is recent position of NBA head Adam Silver, whom, in an op-ed for the brand new York circumstances toward the end of final year, suggested the laws on activities betting in america should be changed.

‘Congress should adopt a federal framework that allows states to authorize betting on expert sports, subject to strict regulatory needs and technological safeguards,’ he said.

All other major united states sports leagues, however, stay intransigent about the subject, and meanwhile, C-290, which is languishing in the Senate for the part that is best of 3 years, remains a long shot. Currently, though, long shots are all that Canadians are permitted to bet on.

RAWA Hits Senate Floor as GOP 2016 Presidential Hopeful Lindsey Graham Gets Lambasted by PPA

Senator Lindsey Graham’s introduction of RAWA to the Senate this week came under fire from John Pappas for the Poker Players Alliance, who questioned its timing to a near-empty House that had adjourned. (Image:

RAWA, the brainchild of Senator Lindsey Graham (R-SC) has now been introduced to the Senate.

The legislation, formally referred to as the Restoration of America’s Wire Act, seeks to restore what opponents of online gambling believe to be the initial and interpretation that is correct of 1961 Federal Wire Act, before it absolutely was reinterpreted by the Department of Justice (DoJ) in 2011.

The Wire Act, in its wording that is original prohibited ‘betting or wagering’ using ‘a wire communication facility for the transmission.’

The DoJ’s legal opinion of 2011 asserted this merely relevant to sports wagering on the Internet, rather than poker or casino video gaming, which paved the way for specific states to legalize and regulate online gambling within their borders within the last few few years.

Graham’s bill, if passed, would effectively ban all types of on line gambling at the federal degree, apart from horse competition betting and fantasy sports. No exemptions would be made for the 3 states (Nevada, brand New Jersey, and Delaware) that have already opted to regulate gaming that is online or, certainly, for the dozen or therefore that have chosen to supply online lottery admission sales.

Timing Is Suspect

It’s very long been expected that Graham, who sponsored the bill final 12 months, would present RAWA to the Senate at some point in 2015, but, according to online poker lobby group the Poker Players Alliance, the timing is deeply suspect.

‘Once the eyes of the country are dedicated to South Carolina after the recent tragic event, I think I speak for some Americans whenever I express profound frustration in Senator Graham for choosing this time around to advance a bill for the only real advantage of the billionaire political donor,’ said John Pappas, executive manager of the PPA.

‘The Congress made the decision to adjourn early so they could attend solutions on in Senator Graham’s home-state friday. Unfortunately, Senator Graham has not reset his priorities and picked a tremendously regrettable time for you to engage in the Internet gaming debate.’

Pappas also accuses Graham of cronyism. The Senator recently announced his decision to run for president, and many commentators genuinely believe that RAWA is important for Graham as a means of securing the sponsorship, and campaign contributions of LVS Chairman Sheldon Adelson, that is known for his virulent hatred of all of the things related to online gaming.

California Online Poker Hearings

‘In 2014, following personal meetings between billionaire casino mogul Sheldon Adelson and Senator Lindsey Graham and lots of Adelson-sponsored fundraising events, Senator Graham introduced similar legislation to ban states’ from authorizing Internet gambling of their very own borders,’ stated the PPA within an official statement this week.

‘Though Senator Graham has typically been a staunch states’ rights advocate, this legislation would overturn whole-cloth the decisions regarding the states to authorize and license online gaming within their own borders.

‘Sheldon Adelson’s power over politicians, especially those operating for president, is significant, but Congress must show it is stronger,’ warned Pappas.

While Graham was presenting their legislation to an empty Senate, Pappas had been in Sacramento, addressing a hearing of California’s General Assembly Committee on Governmental Organization on the feasibility legalizing poker that is online the state.

‘There is no general public policy justification for the status quo,’ he told the committee. ‘Doing nothing is just not an option. Now’s the time for the legislature to regulate Internet poker.’