Amaya Gaming has struck a deal to acquire PokerStars.
The company will purchase the Rational Group, the parent company of both PokerStars and Full Tilt Poker. The deal is worth about $4.9 billion and it is expected to close by the end of September 2014, according to Amaya Gaming CEO David Baazov.
The deal has been in the works for about a year and it will help Amaya Gaming cement its status as a top player in the online gambling industry. The company will get both PokerStars and Full Tilt as well as plenty of live tournament poker events along with branded poker rooms.
The deal has made Mark Scheinberg one of the world’s youngest billionaires.