PokerStars looking to launch in India by end of year

[The Buzz]

According to Chief Executive Officer Rafi Ashkenazi, Amaya Gaming -- soon to be renamed The Stars Group Inc. -- plans to introduce PokerStars in India by the end of this year, lured by the country’s 1.2 billion mobile users. The company is aiming for at least half the Indian market, which it estimates could reach $150 million over time.

From Bloomberg.com:

“It’s a booming country,” Chief Executive Officer Rafi Ashkenazi told reporters after an annual meeting in Montreal Wednesday, where shareholders agreed to rename the company and move its headquarters to Ontario. “We want to be there in time and we want to make sure that we are, as usual, the market leader when it comes to poker.”

Ashkenazi said his chief operating officer is currently in India to finalize details of the agreement with the local partner, which already has a license. He didn’t name the company. The deal will give PokerStars access to all of India except "a couple" of states, Ashkenazi added.
KPMG estimates that India’s online gaming industry will more than double to $1 billion by 2021, adding 190 million gamers with the majority on mobile devices.

Amaya shares have climbed 22 percent this year year as Ashkenazi focused on paying down debt, installing a new management team and growing the casino and sports betting business.

Read more here: https://www.bloomberg.com/news/artic...es-india-entry