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Amaya acquires Rational Group (owner of Stars/FTP)

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bigredhoss   Cook Islands. Jun 12 2014 22:57. Posts 8646

http://finance.yahoo.com/news/amaya-agrees-acquire-rational-group-012400010.html

gogogo

edit - 2p2 thread: http://forumserver.twoplustwo.com/29/...r-pokerstars-full-tilt-poker-1451606/

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Truck-Crash LifeLast edit: 12/06/2014 23:00

dogmeat   Czech Republic. Jun 13 2014 01:42. Posts 6374

i dont see how this is a good news

ban baal 

MadeInPolanD   Poland. Jun 13 2014 02:23. Posts 1383

not sure if i like this o_O

Make it rain$$$ 

dogmeat   Czech Republic. Jun 13 2014 02:29. Posts 6374

time to cashout

ban baal 

Baalim   Mexico. Jun 13 2014 02:52. Posts 34246

lol relax everything is the same

Ex-PokerStars Team Pro Online 

dogmeat   Czech Republic. Jun 13 2014 02:57. Posts 6374

the amount of debt here is quite shady

ban baal 

YoMeR   United States. Jun 13 2014 03:01. Posts 12435

OoooOO might consider moving to NJ/NV again once I see how it plays out.

eZ Life. 

Baalim   Mexico. Jun 13 2014 06:08. Posts 34246

saw this online, i liked it

http://www.globalpokerindex.com/blog-alex-dreyfus-thanks-isai-marc-and-david/

Ex-PokerStars Team Pro Online 

LemOn[5thF]   Czech Republic. Jun 13 2014 06:23. Posts 15162

I believe the expertise and talent of Rafi Ashkenazi (COO) with his background at Playtech
oh
fuck

93% Sure!  

Romm3l   Germany. Jun 13 2014 06:41. Posts 285

huge news.. get that on the lp front page, it's much more significant than the other trivia (pay to meet hellmuth)


ggplz   Sweden. Jun 13 2014 11:14. Posts 16784

Seems they're planning to open up casino/sports betting to stars/ftp players in the future for "growth". Not really my taste
Slides from Amaya's presentation: http://imgur.com/a/ZsTHw

Idk, everything seems like it'll be normal for now but in the future (2+ years) who knows what stars will look like. I think our funds should always be safe (as they're almost certainly going to continue being segregated and not Amaya assets) regardless of how much debt Amaya has. Good news for US players though.

if poker is dangerous to them i would rank sports betting as a Kodiak grizzly bear who smells blood after you just threw a javelin into his cub - RaiNKhAN 

Mortensen8   Chad. Jun 13 2014 18:12. Posts 1841

We need US players

Rear naked woke 

ggplz   Sweden. Jun 13 2014 18:46. Posts 16784

If PS re-enters the US it's probably going to be state by state and unlikely ever to be with the rest of the world.

if poker is dangerous to them i would rank sports betting as a Kodiak grizzly bear who smells blood after you just threw a javelin into his cub - RaiNKhAN 

chris   United States. Jun 13 2014 23:25. Posts 5503


  On June 13 2014 17:46 ggplz wrote:
If PS re-enters the US it's probably going to be state by state and unlikely ever to be with the rest of the world.



thanks for throwing cold water on everything....even though you are probably right.

sigh :/

5 minute showers are my 8 minute abs. - Neilly 

Vivi57   United States. Jun 14 2014 01:02. Posts 314

Did those slides really say stars had <500m in revenue in 2013? I had no idea stars was such a tiny business. I always assumed their revenue was at least 5-10x that much.


dogmeat   Czech Republic. Jun 14 2014 11:39. Posts 6374

morons itt


ban baal 

handbanana21   United States. Jun 14 2014 13:30. Posts 3037

Im tired of grinding vs russians all day anyways.


Romm3l   Germany. Jun 14 2014 13:54. Posts 285


  On June 14 2014 00:02 Vivi57 wrote:
Did those slides really say stars had <500m in revenue in 2013? I had no idea stars was such a tiny business. I always assumed their revenue was at least 5-10x that much.


no, double. <500m earnings, ~1bn revenue (solid margins) trailing 12months according to the valuation multiple mentioned on the front news post

edit: had a look at the slides ggplz linked (thanks ggplz)

oldford group (stars) 2011 revenue: $865m, 2012: $976m, 2013: $1.133bn

I was pretty happy to get the chance to see these kinds of figures as well since i always wondered. I tried to do back of envelope calculations once to have a guess at revenue and its nice to see i was very much in the right ballpark thinking it was always around the $1bn mark. What I had much less idea about is how much of that goes into profit. Sadly they only talk about EBITDA as far as I can see so I still don't really know. EBITDA margin looks around 37% in 2013 and grows with revenue but who knows how much they pay to develop software. Let's say after all that and tax and interest their margin is maybe around 25% of revenue - obviously pretty healthy but I think it pretty widely discredits the ridic ramblings of the stars-is-evil/rake-free-bitcoin-poker crowd that used to "campaign" here and make out as if stars have no expenses and 90% of their revenue is profit.

 Last edit: 14/06/2014 14:24

devon06atX   Canada. Jun 15 2014 00:30. Posts 5458

Are you fucking serious? Look at their business model for fucks sake.

How much of their capital is spent on the actual software? Nil. How much do you think is spent on Customer Service? Yeah, they're awesome at it, but I assume I rake more than every other 30,000 person. A few mins here nor there isn't bad.

Servers? Yep, cash. Marketing, there's the big one. That would cost at least a few tens of millions.

Sitting there, acting like they have tons of overhead, is a fucking joke. Many businesses have tons of overhead, this one is pretty DAMN GOOD. I'd be shocked if I found other businesses with less. Well, maybe thugging it up in Baltimore, but even then, you gotta pay.

This is a cash cow to the max, don't think for a fucking second their rake is fair.


devon06atX   Canada. Jun 15 2014 00:36. Posts 5458

And btw - No, I don't blame them. I'd do the same in their shoes if I had a monopoly on us idiots.

Make those dollars where you can, right?

.. Just don't give me that 'civil rake' bullshit ever again.


 
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