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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.

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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