Amaya shares surge on New Jersey news

The announcement that online gambling group Amaya Inc. and its subsidiaries Pokerstars and Full Tilt have been cleared for operations in the regulated and licensed New Jersey online gambling market triggered a surge in the company’s share price Thursday, taking the stock to its highest level in 15 months.

The stock jumped 15 percent to C$28.08 at 9:57 a.m. in Toronto following earlier gains of as much as 22 percent, the most since June 2014.

A review by the New Jersey Division of Gaming Enforcement found Amaya’s Pokerstars brand to be under “strong, ethical and trusted ownership and management,” and “worthy of participating in New Jersey’s regulated online gaming market,” the Montreal-based company revealed in a statement late Wednesday .

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