Amaya Files Final Prospectus for the Qualification of Units Underlying Previously Issued Special Warrants

MONTREAL, CANADA--(Marketwire - March 27, 2012) -

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Amaya Gaming Group Inc. ("Amaya" or the "Company") (TSX VENTURE:AYA), an entertainment solutions provider for the regulated gaming industry, today announced that it has obtained a receipt for its final short form prospectus dated March 27, 2012 filed with the securities authorities in the provinces of Alberta, Manitoba, Saskatchewan, Ontario and Québec to qualify the distribution of 28,750 units (the "Units") of Amaya (the "Offering") issuable upon the deemed exercise of 28,750 previously issued special warrants of the Company in connection with the previously announced private placement financing through a syndicate of underwriters led by Canaccord Genuity Corp. and including Desjardins Securities Inc. and Union Securities Ltd. Each Unit consists of one convertible debenture (a "Convertible Debenture") and of 50 common share purchase warrants (each a "Warrant"). Each Convertible Debenture will bear interest at 10.5% per annum and will be convertible, at the holder's option, into common shares of the Company (the "Common Shares") at a price of $3.25 per Common Share, being a ratio of approximately 308 Common Shares per Convertible Debenture. Each Warrant will entitle its holder to acquire one Common Share at a price of $3.00 per Common Share until April 30, 2015.

The TSX Venture Exchange (the "TSXV") has conditionally approved the listing of the Convertible Debentures and Warrants. The listing of the Convertible Debentures and Warrants is expected to occur on or about April 4, 2012, which listing will be subject to Amaya fulfilling all of the requirements of the TSXV.

The net proceeds of the Offering will be used to fund a portion of the all cash offer for all the outstanding share capital of CryptoLogic Limited that Amaya does not already own.

About Amaya

Amaya is engaged in the design, development, manufacturing, distribution and sale of technology based gaming solutions for the regulated gaming industry worldwide. For more information please visit www.amayagaming.com.

Forward-looking Information

Certain statements included herein, including those that express management's expectations or estimates of our future performance constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements. Except as required by law, Amaya does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Special Warrants in the United States. The Special Warrants and the securities underlying the Special Warrants have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.