\u00a0 \u00a0 \u00a0<\/span><\/p>\nThis would cause a \u201cdefault and potential acceleration of the repayment of the debt under the credit agreement for the first lien term loans,\u201d Amaya warned.<\/p>\n
Amaya borrowed billions when it acquired the Rational Group\u2019s assets, including PokerStars, in 2014, which means the lenders\u2019 threat, if acted upon, would cripple the company.<\/p>\n
Baazov pulled off one of the most audacious coups in the history of the industry when he orchestrated that $4.9 billion takeover, but, three years later, he has been forced to move on.<\/p>\n","protected":false},"excerpt":{"rendered":"
David Baazov, the founder and former chairman and CEO of PokerStars parent Amaya Inc, has reduced his stake in the company to around 3.8 percent. Baazov sold off more than $200 million-worth of the company\u2019s stock this week, having disposed of a further $100 million earlier in the month. Where he began March as the […]<\/p>\n","protected":false},"author":42,"featured_media":47656,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,60],"tags":[],"acf":[],"yoast_head":"\n
David Baazov Cashes in His Chips, Sells Almost All His Equity in Amaya<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n