Amaya Gaming Group Eyeing to Expand Online Poker Business in India

Amaya Gaming Group has cast its eyes on expanding its business of poker in India.

"India is quite an exciting market," CEO Rafi Ashkenazi spoke to the reporters on Wednesday after the company's annual meeting where shareholders agreed to a name change and headquarters relocation to Toronto, Canada.

Amaya will officially become The Stars Group in August 2017.

It is opening its headquarters in downtown Toronto to complement roughly 300 people who currently work in technology development in Richmond Hill.

Amaya's COO is presently in India working to finalize a structure that will permit the company to function with an already licenced partner, likely beginning later in 2017.

India is a lucrative market owing to its huge population and the wide scale penetration of smartphones which exceeds the US, Ashkenazi said.

The stringent gambling laws in the country have prompted more and more people to play poker online in India. Amaya will be looking to make the most of this current trend.

He stated Amaya hopes eventually to lure in at least half of the online poker market that could touch US$150 million in a couple of years.

"It's a booming country and we want to be there and we want to be there in time and make sure that we are as usual the market leader when it comes to poker."

Online gaming is immensely popular in Asia, but developing the right structure is crucial to entering a profitable market valued at several billion dollars a year, he stated.