Amaya Gaming to purchase PokerStars for $4.9B

Amaya Gaming (AMYGF) will purchase PokerStars for $4.9B, creating the largest publicly held online gambling company in the world.

PokerStars was forced out of the U.S. by the Justice Department in 2011 on charges of bank fraud, money laundering and illegal gambling operations. However, Amaya Gaming is looking to bring PokerStars back to the U.S. with the acquisition,, and revive the U.S. online poker market.

AMYGF flew up +40.78% following the announcement on Friday

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