UPDATE 3-PokerStars owner Amaya says CEO proposes takeover

Mon Feb 1, 2016 10:58am EST
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* CEO David Baazov offers C$21/shr

* Offer at 40 pct premium to Friday close

* Amaya valued at about C$2.8 bln, based on basic shares

* Shares up 27 pct in morning trading (Adds analyst's comment; Updates shares)

By Amrutha Gayathri

Feb 1 (Reuters) - Canada's Amaya Inc , operator of online gambling website PokerStars, said it received a non-binding proposal from Chief Executive David Baazov to take the company private.

Amaya's shares were up about 27 percent at C$19.15 in morning trading in Toronto, but were still below Baazov's proposed offer of about C$21 per share.

The company's stock has more than halved in value in the past 12 months due to scrutiny of daily fantasy sports in the United States, delay in the launch of a sports-betting platform and legal worries.

However, the company could receive a major revenue boost if U.S. states such as California legalize online gambling over the next couple of years, Global Maxfin Capital analyst Manish Grigo said.   Continued...