Shares in Canada’s Amaya Gaming are up one-quarter on Monday after CEO David Baazov tabled a C$2.8b offer to take the company private.

On Monday, PokerStars parent company Amaya issued a statement saying Baazov (pictured) and undisclosed partner investors were planning an all-cash $C21 per share offer to acquire the company and delist its shares.

Baazov, who currently owns 18.6% of Amaya shares, is offering a 40% premium to the company’s closing price on Jan. 29. The company stressed that there was no guarantee that Baazov would follow through on his pitch with a concrete offer.

Amaya’s stock soared after its 2014 acquisition of the Rational Group, whose assets included Stars and Full Tilt. The shares peaked at $37.28 in Feb. 2015 but had fallen to less than $15 as of last week after the company revised its earnings forecast in November.