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Pokerstars Reviving Deal With Resorts Casino
Friday June 13,2014 : POKERSTARS U.S. DEAL WITH RESORTS CASINO TO BE REVIVED
Amaya plans an early start on entry to the New Jersey online gambling market.
During a conference call Friday on his company';s $4.9 billion acquisition of The Rational Group , Amaya Gaming CEO David Baazov said he regards reviving the Pokerstars deal with New Jersey's Resorts Casino as a priority.
The deal has been on the back burner since the New Jersey regulators put the application on hold for two years pending infrastructural changes at Pokerstars.
Baazov said that the acquisition agreement should satisfy the regulator, and expressed confidence that Pokerstars will be acceptable for regulated and licensed operations in the US online poker market, initially in partnership with Resorts.
He noted that his company has a successful record of working with North American regulatory bodies, which would be employed in seeking legitimacy for Pokerstars.
In related news, Warwick Bartlett, CEO of Global Betting & Gaming Consultants, commented on the Amaya-Rational deal Friday, saying the agreement was unexpected and would be felt for some time in the online gambling industry.
He added that Pokerstars was a market leader and a highly efficient company, and that its acquisition by Amaya would, if approved by shareholders, make that company one of the biggest gambling enterprises in the world.
"The success of Amaya will now depend on three things. First is whether it can manage Pokerstars as well as the founders Mark and Isai Scheinberg. The father and son team were driven to make PokerStars the number one company, will that same drive now exist at Amaya and the PokerStars team?
"If it does then there is further trouble in store for the present incumbents in the USA namely 888 and Bwin Party who are presently market leaders in New Jersey. Add Pokerstars to the mix and you can see that market share will be lost by both in what has been a disappointing market so far.
"The second big question concerns whether Pokerstars under the Amaya umbrella will win licenses in the USA. Much depends on them doing so to account for such a high purchase price. They will of course have to overcome bad actor clauses that most states are including in their forthcoming legislation. So it is not going to be easy, but nothing is in the new world of e-gaming.
"Finally Amaya is a quoted company and PokerStars has historically traded in countries that the industry calls ‘grey’ markets. These are jurisdictions where there is no law allowing Internet gambling but no law forbidding it. Will Amaya close those markets down?
"It isn’t going to be easy. For Pokerstars the big win is access to the USA and this is possibly the only route. For every buyer there is a seller and the sellers in this case have been proven to be very astute in the past.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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