iGaming Business – Gambling industry entertainment provider Amaya Gaming Group has denied that it is looking to acquire another company following a sharp increase in its share price.

According to the Financial Post Canadian newspaper, Amaya shares on the Toronto Stock Exchange jumped 5% on Monday afternoon amid speculation that the Quebec-based firm was considering acquiring another company.

The firm moved to quell speculation by issuing a statement that read: “In response to trading activity that may stem from market rumours that have come to the company’s attention regarding a potential strategic acquisition, Amaya stated today that… [it] regularly evaluates potential acquisition opportunities.

“There can be no assurance that any discussions will ultimately lead to a transaction.”

In recent years, Amaya Gaming has acquired a number of online gambling companies such as Chartwell Technology and online gaming platform provider Cryptologic.

Amaya’s shares pared gains following the statement and closed up 2.93% on the Toronto Stock Exchange.

SOURCE