Amaya Gaming to explore sale of Cadillac Jack subsidiary

Reuters News
Posted: Oct 20, 2014 4:44 PM

TORONTO (Reuters) - Amaya Gaming Group Inc, which has pivoted to focus on the fast growing online gambling market, said on Monday it is exploring a sale of its Cadillac Jack subsidiary that makes slot machines for casinos.

Earlier this summer, Montreal-based Amaya closed on the $4.9 billion takeover of Rational Group, operator of online gambling website PokerStars, just as several U.S. states have begun to move on legislation to legalize online gambling.

Amaya said its strategic review process will consider varied alternatives for the Cadillac Jack business with the main aim of expediting Cadillac Jack's growth and maximizing value for Amaya shareholders.

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(Reporting by Euan Rocha; Editing by Lisa Shumaker)