Report: Baazov Finds Additional Hong Kong Funds for Takeover

The increasingly bizarre David Baazov's Amaya takeover story took yet another twist yesterday after it was announced, that two Hong Kong funds have now agreed to boost their support for Baazov's bid to take the gaming company private.

Baazov needed to refinance the deal after one of his previously announced Dubai-based investor told, that there had been no negotiations with Baazov whatsoever and that he had never "even heard of Amaya".

That didn't slow Baazov down, however, as he has now confirmed that Hong Kong-based investors Head and Shoulders Global Investment Fund and Goldenway Capital, who were last week named as two of four backers for the deal, would provide the needed funding.

Head and Shoulders is run by Stanley Choi, who earned one of the biggest poker tournament payouts of all time, US$6,4 million, in a tournament in Macau in 2012.

“We continue to support David Baazov," Choi said in a phone interview with Bloomberg from Hong Kong, adding that he’s “not at all” concerned about what happened in the past week with KBC. He declined to comment further on his firm’s increased commitment or the structure of the transaction.

Amaya has yet to comment the latest offer from Baazov.