MONTREAL – Amaya Gaming Group Inc. (TSX:AYA) said Monday that it has launched a strategic review of alternatives for Cadillac Jack Inc., its video slot machine subsidiary.
The company said it wants to consider plans aimed at helping Cadillac Jack grow and maximizing value for Amaya’s shareholders.
Companies often use a strategic review process to put assets up for sale.
“In light of recent consolidation within the gaming machine supplier industry, we believe that this is an appropriate time to review and evaluate potential strategic alternatives for Cadillac Jack,” Amaya chairman and chief executive David Baazov said in a statement.
Cadillac Jack designs, manufactures and sells a range of server-based and stand-alone video reel slots and other gaming machines.
Amaya has hired Macquarie Capital and Deutsche Bank Securities Inc. as co-financial advisers to assist in the review.
The company said it did not have a timeline for the review and did not intend any updates regarding the process until a decision has been made.
In addition to Cadillac Jack, Amaya is the owner of the Rational Group, which owns and operates PokerStars, Full Tilt, the European Poker Tour, PokerStars Caribbean Adventure, Latin American Poker Tour and the Asia Pacific Poker Tour.