Gambling equipment maker Amaya Gaming Group Inc. (CVE:AYA) will pay $4.9 billion in cash to buy the world's largest poker business and owner of the PokerStars and Full Tilt Poker brands, to create the world's largest online gambling company.

To help finance Amaya's deal to buy privately held Oldford Group Ltd., parent of Rational Group Ltd., said late Thursday it has arranged financing from a unit of the Blackstone Group LP (NYSE:BX). Amaya also will issue common shares and preferred shares to help pay for the acquisition.

Rational Group is the world's largest poker business and the owner of the PokerStars and Full Tilt Poker brands, Amaya said.

Amaya Group
Amaya Group, maker of gambling equipment and systems Photo: Amaya Group