On Wednesday, Federal Canadian police officers Canadian market regulators stormed Amaya Gaming’s Quebec offices in an apparent raid, the details of which remain under wraps at this hour.
What we do know is that there is an ongoing investigation into trading activity that transpired prior to Amaya’s massive acquisition of the parent company of PokerStars earlier this year for close to $5 billion.
Authorities also showed up at Canadian investment bank Canaccord Genuity, as well as Canadian insurance firm Manulife Financial, as part of the same investigation.
“[This] operation is part of an AMF investigation on that company. I can’t go further for the moment,” Sylvain Théberge, a spokeman for the regulator of Quebec’s financial markets, is quoted by Forbes.
Following the raid, Amaya released a comprehensive statement to the press, a portion of which reads:
To provide clarification on a media report, Amaya Inc. confirmed that the Corporation and its officers are cooperating with the Autorité des Marchés financiers, the securities regulatory authority in the Province of Quebec in an investigation with regards to trading activities in Amaya securities surrounding the Corporation’s acquisition of Oldford Group in 2014.
To the Corporation’s knowledge, this does not involve any allegations of wrongdoing by the Corporation. Amaya will continue to cooperate, if and as requested, consistent with our practice to always cooperate with regulatory authorities. The Corporation will continue to monitor the investigation if and as it proceeds. The investigation has had no impact on Amaya’s business operations, employees or companies.
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