David Baazov is perhaps the latest luckiest man in the gaming industry after news spread late last week that he sold most of his shares that he had invested in Amaya.
Why Does Former Amaya Founder Sell Most His Shares From The Company?
After selling a large portion of the investment he had put in the gaming company, David’s remaining fortune may not surpass 3.8 percent.
Confirmed sources from a close ally to David say that he is now a happy man after making real money online casino gambling sites a sole source of his income.
The former CEO was one of the greatest beneficiaries of online investment when reports spread last month that he had sold shares worth $100 million.
As if that was not enough, mid last week, he made another seemingly bold move to sell shares worth $200 million making the aggregate amount to $300 million is just one month.
When the company held its general meeting, which brought together investors and stakeholders last month, it emerged that David owned the largest portion of shareholders in the company.
However, now that he has substantially withdrawn almost all of his shares, someone else might take the mantle that he has held for some time.
While David’s move might be seen by many people as a sign of bankruptcy, the business-minded David might be thinking hard. In fact, rumor has it that he has constituted his personal equity company, which he plans to focus all his mind and energy on.
Baazov, who is a Canadian, has actually started his own private equity company- a global multi-sector equity firm.
According to a website, Ahaka, which is believed to be the name of Baazov’s equity firm, is said to have been born nearly four months ago.
If the time of the formation of the website is true, then that is the exact time David broke the news of selling-off some if not most of his shares.
Besides, on the website, David is listed as the site’s chairman, a post he began to hold sometime in January this year.
David’s partner in the new business is another person who sheds more light into the new development. Speaking of further achievements via his LinkedIn page, Jake Malczewski, a former KPMG international tax lawyer said that Ahaka was signing new business deals with another company. Online Gambling Supporters In Michigan ‘Cautiously Optimistic’.
“Ahaka Equity Firm is happy to do business with UVEye having contemplated about the move for a long time,” wrote Jake.
His post came at a time when those who know David said that he had actually spread the word of selling his initial $100 million worth of shares.