Amaya limits DFS operations after state ban

AMAYA LIMITS OPERATION OF DAILY FANTASY SPORTS BRAND STARSDRAFT PENDING FURTHER STATE REGULATION

MONTREAL, Canada – October 19, 2015 – Amaya Inc. (Nasdaq: AYA, TSX: AYA) (“Amaya”) has announced that it is limiting its daily fantasy sports (“DFS”) brand StarsDraft from operating real money games and tournaments in most U.S. states following a review of recent developments in a number of jurisdictions. The decision is not anticipated to have a negative financial impact on Amaya. StarsDraft players in all jurisdictions will continue to have access to the funds in their online accounts, which are available for withdrawal at any time.

We have previously called for state regulation and licensing of DFS to ensure consumer protection and strict government oversight of operators. Prior to the launch of StarsDraft and based on a thorough review of the regulatory environment at the time, Amaya decided not to launch StarsDraft in jurisdictions where many of our competitors continue to operate today, including Michigan. We recently withdrew from Florida and Nevada, where last week the respected Nevada Gaming Control Board (NGCB) determined that DFS operators in that State are required to obtain a gaming license from the NGCB. Amaya supports the decision by the NGCB, and believes that it is prudent to limit the StarsDraft offering until such time as more states adopt a clear stance on daily fantasy sports.

We will actively monitor developments and work with all states interested in implementing clear guidelines for the operation of daily fantasy sports in their jurisdiction. In the meantime, StarsDraft intends to focus operations in states with favorable existing daily fantasy sports guidance, including New Jersey, Massachusetts, Kansas and Maryland.

Amaya entered the daily fantasy sports industry a little over a month ago when it acquired Victiv and re-launched it as StarsDraft, bringing its global experience in gaming regulation and best practices with respect to compliance, security, responsible gaming and player fund protection. Amaya is currently the most licensed online gaming operator in the world.

Also direct info from starsdraft:

Update to List of Accepted States

Following a review of recent daily fantasy sports developments within a number of jurisdictions, we regret to inform you that StarsDraft is now limiting its operations to a select list of states. Starting today, only players physically located in Kansas, Massachusetts, Maryland and New Jersey will be able to participate in our fantasy sports contests.

Withdrawing Your Funds

As part of Amaya Inc., one of the world's largest and most regulated online gaming brands, we at StarsDraft pride ourselves on best practices with respect to compliance, security, responsible gaming and the protection of player funds. Unlike many other fantasy sports operators, Amaya ensures that all of its brands hold end users’ deposits, winnings and bonuses in trust accounts through which money is fully protected from company operating liabilities.

As such, your full balance is and will remain available for withdrawal at your earliest convenience.

To thank you for your support of the StarsDraft brand, we are making the following changes to our system to help assist players with their withdrawal requests:

1. We have removed any minimum withdraw restrictions;
2. We have removed any Bankroll Builder promotional withdraw restrictions;
3. We are converting all loyalty points into cash;
4. We are converting all open tickets and non-deposit promotion tickets into cash (this does not include Bankroll Builder or First Down deposit tickets);
5. We have removed the minimum check withdrawal restrictions.

well fuck a duck i was runnin starsdraft up well too

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