Amaya sells two subsidiaries for $150-million

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Amaya Inc. has found a buyer for more of its non-core assets as it focuses on building its online games business.

Montreal-based Amaya said on Thursday it has struck an all-cash $150-million deal to sell Amaya (Alberta) Inc. – formerly Chartwell Technology Inc. – and Cryptologic Ltd. to NYX Gaming Group Ltd.

The transaction follows Amaya's decision last month to sell its Cadillac Jack casino games business for $476-million and to spin off its Diamond Game unit.

Diamond Game designs and develops games for the North American lottery sector.

Last June, Amaya acquired the operator of popular brands PokerStars and Full Tilt Poker for $4.9-billion (U.S.).

That deal is at the centre of a wide-ranging investigation by Quebec's financial watchdog, the Autorité des marchés financiers, into events surrounding a sharp run-up in Amaya's stock price in the month before Amaya's blockbuster acquisition of PokerStars.

Amaya's share price nearly doubled in heavy trading ahead of the announcement and doubled again to more than $30 (Canadian) per share after the news broke.

The AMF has executed search warrants on three companies: Amaya, lead financial adviser Canaccord Genuity Corp. and the Dorval, Que., branch of Manulife Securities Inc.

According to people familiar with the probe, the regulator seized documents and records of communications in December from Amaya chief executive and co-founder David Baazov and chief financial officer Daniel Sebag.

Ben Soave, a member of Amaya's compliance committee and an adviser to the board of directors, said in a statement Wednesday that the company has "thoroughly reviewed the relevant internal activities" in connection with the PokerStars deal.

The review "found no evidence of any violation of Canadian securities laws or regulations including tipping and insider trading by CEO David Baazov and CFO Daniel Sebag as well as its directors, officer and employees."

With files from Jacquie McNish and Nicolas Van Praet