Amaya Confirms Baazov Departure

Amaya Inc, the parent company of PokerStars, has confirmed that Chief Executive David Baazov, who was charged with insider trading by Quebec's securities regulator, stepped down on Thursday.

After stepping down, Amaya has named a new chief executive officer to replace David Baazov, and it's Rafi Ashkenazi.

“I am proud of my contributions in building Amaya into the successful company it is today, and continue to be supportive of its strategy and management,” Baazov said in a press release.

Amaya instead thanked Mr. Baazov for "his contributions to Amaya since its inception and through its rapid growth".

Despite stepping down, Baazov still remains a major stakeholder in Amaya Inc., and is reportedly continuing with his plan of trying to take the company private.

In the same press release, Amaya also published its second quater 2016 results. The revenue from real money poker was slightly down from last year, while the revenues from sports betting and online casino play continued to grow, and made up 21% of Amaya's revenues, up from 12% in the prior year period.