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Pokerstars In Canada
Newspaper article reveals background
The Toronto Sun publishing an interesting article this week, claiming that online poker site Pokerstars has set up shop in Canada, and that the poker giant's software, which has dealt over 48 billion hands, was developed in Richmond Hill, Ontario by PYR Software, a firm created by PokerStars founder Isai Scheinberg in 2000.
Scheinberg, a former programmer himself, had worked with IBM in Canada and Israel before he and his son Mark started the world's largest online poker enterprise.
The Sun article claims that the Pokerstars server is hosted in the Kahnawake Mohawk First Nation reserve near Montreal in Quebec.
"The partnership has proved lucrative for the Kahnawake, which just this week announced plans to tap into its online gaming revenues to fund a multi-million-dollar wind energy farm project with a U.K. based company," the Toronto Sun reveals.
John Pliniussen. a business professor and online gambling expert at Queen’s University, told the newspaper that he wouldn’t be surprised to see more local online gambling servers pop up on First Nation reserves as bands look to capitalise on the online gambling movement.
“It’s fair game. That’s where the action is,” he said.
US government moves to stifle online gambling via the prosecution of processors and the UIGEA appear to have had little effect on Pokerstars, which continues to service US players and has issued a statement claiming: “As reflected in legal opinions provided to PokerStars, its activities in the U.S. are and at all times have been lawful."
Today, PokerStars has an estimated 38 million members, annual revenue of $1.4 billion and some $500 million in profits, according to Forbes magazine.
Globally, online poker is a $4.8-billion annual business, according to H2 Gambling Capital. PokerStars enjoys 35% of that market.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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