On Friday, we’d expect to hear news that Canadian-based Amaya Gaming will be purchasing the parent company of PokerStarsand Full Tilt Poker, the Isle of Man-based Rational Group. Blackstone, a US-based private equity firm, is reportedly raising $1 billion for the acquisition. All of this is according to Online Poker Report, Bloomberg, and our own sources.

Amaya is already licensed in New Jersey, although whether it would bring the PokerStars or Full Tilt brands to the Garden State remains to be seen. According to 4Flush, a reverse takeover is planned.

While Amaya is green-lighted in New Jersey, the license review for PokerStars was suspended for two years. The rationale: “The unresolved Federal indictment against Isai Scheinberg for the alleged violation of Federal gambling statutes, namely, the Illegal Gambling Business Act and the Unlawful Internet Gambling Enforcement Act, and the involvement of certain PokerStars executives with internet gaming operations in the United States following the enactment of UIGEA.”

Trading of Amaya’s stock in Toronto came to a halt midway through the day on Thursday after it had shot up 28% in two days and 17% on Thursday morning alone. In 2014, Amaya’s stock is up 75%. It traded under $6 a share as recently as April and is currently at $14.

The true value of PokerStars remains to be seen, as according to Online Poker Report, being acquired by Amaya doesn’t automatically mean PokerStars will roll out in every state with legalized online gambling: “It’s difficult to see the straight line between this deal and PokerStars’ return to the American online poker market. For example, proposed legislation in California excludes not only operators, but also intellectual property such as brands and software connected to online bets taken from the US market after December 31, 2006.”

Many of the contacts PocketFives has spoken to have affirmed that a deal is on its way, and Bloomberg said an announcement could have come as soon as Thursday, although that didn’t come to fruition.

We’ll keep you posted on Friday right here on PocketFives.

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