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. 

Must Read: Warren Buffett's 25 Favorite Growth Stocks

 
AYA Chart

AYA data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

Gaming Company 888 Holdings Hits Jackpot With Bwin.party Purchase

Gaming Group Bwin.party Begins Talks About Takeover by GVC, Amaya

Zynga Has to Put Real Money on the Online Poker Table, or Else