Sports Betting Product To Launch in "Certain Markets" Later This QuarterPublished on January 15th, 2015 9:03 am EST
Amaya Inc., the owner of Pokerstars and Full Tilt Poker, issued a "Pokerstars Business Update" via press release earlier today.
The press release contained a number of details, including that Pokerstars.es will be relaunching their casino games "in a matter of weeks" and that Pokerstars has signed its first Team Pros from India (Aditya Agarwal) and Japan (Kosei Ichinose).
The most interesting tidbit in the release, however, was the news that Pokerstars will be launching their sports betting product ahead of schedule.
According to Amaya, the sports betting product will "launch within the Pokerstars poker client in certain markets" in the first quarter of 2015. Following the initial launch, more markets, as well as web and mobile versions of the sports betting product, will be added throughout the year.
With the casino product having been rolled out and sports betting set to arrive shortly, Pokerstars is set to do battle with multi-product online gaming companies such as William Hill and Bet365. While Pokerstars has maintained a stranglehold on the online poker market, the company has missed out on the tremendous sports betting revenues that are generated in markets such as the United Kingdom. Amaya is looking to change this, much to the delight of their shareholders.
Shares of Amaya, Inc. closed at $29.96 on Wednesday, roughly 9 points below their 52 week high of $39.25. After a parabolic rise following the initial news of its acquisition of Pokerstars, shares of Amaya have pulled back somewhat in recent months. It will be interesting to see what impact today's news of Pokerstars' accelerated sports betting launch schedule will have on the shares of the company.
Source: Yahoo.com - Amaya Provides Pokerstars Business Update
Filed Under: Online Poker Rooms