Jordan Sturdy is facing a lot of criticism following a report that was released that shows that he has invested into Amaya. It was shown through the public disclosure statements that were released that he bought shares in the company back in the later party of 2015. While this was not his only investment of the year, it was his largest and most prominent one. Sturdy is an MLA for the British Columbia province, which is why this investment has gathered so much attention.
Amaya Incorporated is one of the largest gambling companies located in Canada and has made quite an impression on the global market. They are based out of Montreal in the Quebec province and provide stock trading through the NSADAQ: AYA as well as the AYA: CN. This means that purchasing stocks from the company is legal and the MLA has the full right to invest into the company, just like any other person. Of course, whether or not the transaction was legal is not the issue that so much of the public has been quick to scrutinize, but rather all the attention is being pointed at the fact that investing in the company would be a breach of British Columbia’s regulatory body called the Gaming Policy Enforcement Branch.
The only site that is currently legitimate through this group is PlayNow, and this site is operated through the British Columbia Lottery Corporation rather than a third party individual company. PlayNow’s most competitive opponents are Poker Stars and Full Tilt, which are both owned through Amaya. Amaya has no formal authority to operate in British Columbia. One of the main goals of the Gaming Policy Enforcement Branch has been to restrict the competition from outsiders in the region, which would mean that an investment by a BC MLA would be a pretty big breach of the direct policies that are being applied. Whose to say that the doors won’t magically open up in the near future, further increasing the value of Amaya stocks as it becomes legalized in British Columbia. It just appears to be shady business that could be easily abused.
One member from the New Democratic Party David Eby gave a short statement about Study, citing that it’s in very poor judgment to affiliate himself with a site that is in a grey area in BC. In his own personal opinion, he feels that Sturdy should feel ashamed for trying to profit from this company and has no reason to believe that this is appropriate.
Of course, not only is the investment in bad taste, but it might be a bit risky at the moment anyhow. Amaya has faced some harsh backlash as a couple of scandals have arisen that surround the company and their former management. Stock has been fluctuating quite a bit, making it a bad time to go in for a long-term investment.
Sturdy has not given a public response to the criticism, and we may see it within a few days.
