Amaya to free up more capital with the sale of Innova Gaming Group

The Amaya online gambling group has followed its long term debt refinancing deal earlier this week (see previous report) with a statement Friday advising that it plans to sell off its remaining 8.18 share stake in former lottery subsidiary Innova Gaming Group in order to free up more capital.

The shares represent Amaya’s 40.6 percent stake in Innova and are to be sold to lottery services group Pollard Banknote Limited for a maximum of Cdn$ 2.10 a share in cash, delivering approximately Cdn$17.2 million to Amaya’s coffers.

The buyer has until May 8 to take up the sale.

Related and similar