Shares in Amaya Gaming Group hit a new 52-week high Tuesday as the company confirmed that it would provide online poker and casino games to Landry's Golden Nugget casinos.
Golden Nugget is partnered with Bally Technologies to power its online gaming offerings in Nevada and New Jersey, while Bally entered into an agreement with Amaya in February of this year to integrate Amaya's Ongame online poker platform and casino suite into Bally's open gaming platform.
Landry's vice president of online gaming Thomas Winter said Amaya "provides proven online casino games and a poker platform that deliver precisely what we need" to offer a best-in-class online and mobile player experience.
"Through this partnership we can supply exceptional and secure online entertainment, supported by the strong brand of our land-based casinos," he said.
Under the terms of the agreement, Amaya will receive a share of the revenue generated from Golden Nugget, subject to necessary regulatory requirements.
Amaya chief executive David Baazov added: "We're extremely pleased to be the selected partner for Golden Nugget's venture into the emerging online gaming market in the United States. This deal expands our existing partnership with Golden Nugget through the addition of our casino product to their poker offering, a result of both the quality of our offering and our strategic partnerships with both Bally and SHFL."
The Golden Nugget announcement follows Monday's news that Amaya intends to sell its consumer-facing WagerLogic business to Goldstar Acquisitionco for an initial consideration of CAD$70m.
The two announcements have driven an 8.5 per cent surge in Amaya's share price since the start of the week, with the value of the shares increasing by more than 125 per cent in the past year.
Shares in Amaya Gaming Group (Co. Data) (TSX:AYA) hit a new 52-week high of CAD$8.81 per share Tuesday before falling back to close 0.23 per cent down at $8.66 per share.