Don't be afraid to give up the good to go for the great.
John D. Rockefeller
31st July 2017  
 
  Tao Hao’s not over Amaya just yet
 
The Story

Hong Kong-based investor Tang Hao has gained an additional 4.2 million shares of Amaya Gaming, Pokerstar’s parent company, for the month of July alone.

 

Let’s breakdown Tang Hao’s acquisition streak.

Tang Hao’s first purchase in July happened on July 11 where it bought 380,000 shares for C$8.45 million. Its string of purchases are as follows: July 12—420,000 shares for C$9.35 million; July 13--400,000 shares for C$8.87 million; July 14--400,000 shares for C$8.83 million;  July 17—400,000 shares for C$8.78 million; July 19—189,400 shares for C$4.16 million; July 20—495,700 shares for $11.13 million; July 21—413,000 shares for C$91.17 million; July 24—500,000 shares for C$11.12 million; and July 25—279,200 shares for C$6.24 million.

 

But Tang Hao’s July string of purchases isn’t his biggest acquisition.

The investor initially had 7.2 million Amaya shares. He then purchased 9,105,000 shares at a cost of C$22.40 per share, for a total consideration of just under C$204 million, in March. And in June, he expanded his stake again by picking up another 2 million shares of Amaya Gaming.

 

The purchases happened after the fall of former Amaya CEO David Baazov.

Tang Hao’s purchases occurred after former Amaya CEO David Baazov sold his 19 million shares early this year. Baazov was forced to sell his shares after Amaya’s lenders reworked its debt deal with a clause that effectively barred him from making further attempts to acquire the company and take it private.

 

However, Baazov might still be the working on the background.

Tang Hao is listed as a top executive of Goldenway Group, which one of the two Hong Kong companies that supported Baazov’s most recent failed attempt to acquire Amaya.

 

Takeaway

Baazov might have found a way to circumvent the limitation barring him to acquire Amaya. Little by little, Baazov’s dream to get Amaya is materializing.

 
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Poker players, get your calendars out! The 2017 World Series of Poker Brazil will be held on Sep 27 to Oct 4 at the Bienal Pavilion in Ibirapuera Park in Sao Paulo. The details of the event are still being finalized.

 
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