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Moody’s Investors Service Downgrades Amaya Gaming Stock to Negative Following Insider Trading Charges

After last week’s blockbuster announcement that their Chief Executive Officer and five other men would be charged with insider trading, Amaya Gaming now has to deal with the fact that one of the top stock watchers in the industry has downgraded the outlook on their stock. Once it was announced that David Baazov, the now-former Chief Executive Officer of Amaya Gaming who has taken a paid “leave of absence” from the company, was facing charges of insider trading in dealings with Amaya Gaming from Quebec’s Autorité des Marchés Financiers (AMF), Moody’s Investors Service moved their outlook on Amaya, Inc. and Amaya B.V. and their related assets to “negative.” The AMF is Canada’s version of the United States’ Securities and Exchange Commission (SEC), the federal organization that is charged with ensuring that there is no wrongdoing on the different stock exchanges in the United States. In announcing that they were moving