Tang Hao Joins The Stars Group Board
Tang Hao, the well-known investor from Hong Kong, has been silently buying shares of TGS (The Stars Group), PokerStars’ parent company.
Tang Hon started his quest early last year, following a few attempts of trying to buy the majority shares of the company. The few times he attempted, he got rejected by The Stars Group. His next move was to join them through Amaya Gaming.
Tang Hao – Stakeholder Details
The serial investor from Hong Kong currently owns 17.9% of The Stars Group. This puts him on number two of the most prominent stakeholders of the company.
More so, he got into an agreement with The Stars Group shareholders that after he purchases the shares, he will appoint an observer who will be attending the board of directors’ meetings. Once Tang Hao and his observer – Melvin Yanmin Zhang receive the approval letter, they will now become legal directors of the company.
DKIL (Discovery Key Investments Limited), one of Hao’s companies currently owns a total of 26 455 200 shares in The Stars Group. Since he owns the company, this latest purchase will move him up the ladder and make him the single biggest shareholder of The Stars.
It is also assumed that Hao could be the same person that was in support of the previous CEO of PokerStars – David Baazov. There is a company called Goldenway Capital, which was situated outside of Hong Kong whose CEO was Hao Tang. It is believed that the company was in support of David Baazov’s failed attempt to acquire Amaya Gaming in 2016.
The recent share purchase done by Tang Hao might result in hidden agendas for him to run and control TGS. However, the TGS executive board of directors don’t think that will get that far. They don’t even think it’s possible for Tang Hao to own 20% of the remaining shares of The Stars Group.