Quebec-based Amaya Gaming Group Inc has announced that it has closed its previously announced bought deal equity offering of 3,400,000 common shares from the treasury of Amaya at a price of CAD$3.00 per Common Share, referred to as the “Offering”, for aggregate gross proceeds of CAD$10,200,000. The Offering was conducted through a syndicate of underwriters co-led by Canaccord Genuity Corp. and Dundee Securities Corporation, and including Laurentian Bank Securities Inc., collectively known as the “Underwriters” in this process.

In addition, Amaya has granted the Underwriters an Over-allotment option exercisable at any time, in whole or in part, up to 30 days from the closing of the Offering, to purchase up to 510,000 additional common shares of Amaya to cover over-allotments, if any, and for market stabilization purposes, called the “Over-Allotment Option”, which if exercised in full the total gross proceeds to Amaya will be CAD$11,730,000.

Amaya has paid the Underwriters an aggregate underwriting commission of CAD$612,000 and has granted the Underwriters compensation options to purchase an aggregate number of 204,000 Common Shares, representing 6% of the total number of Common Shares sold pursuant to the Offering, at a price of CAD$3.00 per Common Share.

Amaya intends to use the net proceeds of the Offering primarily to fund the SMS Lottery projects in the Republic of Kenya and the Republic of Uganda. If the Over-Allotment Option is exercised, the Company intends to use the available net proceeds resulting from the Over-Allotment Option to make additional investments in its marketing and advertising campaign and by increasing or funding additional prize pools.

Amaya is engaged in the design, development, manufacturing, distribution and sale of technology-based gaming solutions for the regulated gaming industry worldwide. Amaya’s solutions are server-based and include a multi-gaming platform (MGP10), hardware devices, such as electronic gaming tables, multi gaming terminals, mobile gaming devices, a proprietary gaming library, a central reporting module (Central Reporting Module or CRM) as well as a Short Message Service (SMS) Lottery System. (E-12.09.10)

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