Why Amaya Gaming Group (AMYGF) Stock Is Soaring Today

NEW YORK (TheStreet) -- Shares of Amaya Gaming Group  (AMYGF) are soaring, up over 40% to $18.25, as the Canadian gambling equipment maker (AYA.TO) is buying the owner of PokerStars, the world's largest online poker site, for $4.9 billion, as PokerStars attempts to re-enter the U.S. after being forced out by the Justice Department several years ago, the Wall Street Journal reports.

Shareholders of PokerStars' parent will sell their holdings to a unit of Toronto-listed Amaya, the companies said. 

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