The Canadian gaming firm, Amaya Gaming, has reached a fresh financial accord with Isai and Mark Scheinberg, the prior proprietors of PokerStars. One might recall that Amaya acquired PokerStars from the Scheinbergs in 2014 for a substantial $4.9 billion. A significant portion of that sum was due on February 1st of this year, but Amaya required a slight postponement. Therefore, they have negotiated an extension with the Scheinbergs, granting them a few additional months to produce the outstanding $197.7 million. This does entail a minor penalty fee, but it spares them from incurring further debt. This arrangement also provides Amaya with some leeway to concentrate on their operations and, ideally, generate the funds necessary to ultimately settle the account with the Scheinbergs.
We felt certain that our present strategy emphasizes the robust financial proceeds of our business structure. This enables us to fund future triumphs while simultaneously upholding our obligations to the former proprietors. We are progressing as planned to settle the outstanding purchase payments promptly, grounded in our solid achievements in 2016.