Amaya Inc, owner of leading online poker sites PokerStars and Full Tilt, has announced the completion of its final payment on the deferred purchase price obligation for its acquisition of the Rational Group – the former owner of PokerStars and Full Tilt – in August 2014.
Amaya used cash flow from operations to make the payment, which included the remaining balance of US$47.5 million and approximately US$870,000 of associated fees.
Amaya had paid US$200 million of the deferred purchase price in November 2016, US$75 million in February 2017 and a further US$75 million in April 2017.
Amaya’s long-term outstanding debt still sits at just under US$2.5 billion. In March, the Group announced the successful repricing and retranching of its US dollar and Euro denominated first lien term loans resulting in the reduction of the applicable interest rate margins by 50 basis points, removing the Euribor floor on the Euro denominated first lien term loans and raising €100 million of incremental Euro denominated first lien debt which it used to reduce its US denominated first lien debt.
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