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WYNN RETHINKS ON INTERNET POKER

Posted 3/25/11 : Once an opponent of online gambling, Wynn's owner now signs a partnership agreement with Pokerstars
 
On the same day that the Nevada Assembly Judicial Committee completed a discussion on the intrastate legalisation of online gambling, one of the biggest land operators in the state made a dramatic announcement that it had signed a partnership agreement with the global online poker giant Pokerstars.
 
The announcement was all the more surprising due to the previously anti-online gambling policy of the Steve Wynn, the owner of Wynn Resorts Ltd.
 
The company's statement described the agreement as a strategic alliance with PokerStars, formed with the objective of  legalising and operating an Internet poker business in the United States.
 
Pokerstars is deeply involved in the promotion of Nevada Bill AB258, recently launched by Assemblyman William Horne (see previous InfoPowa reports).
 
“After much study, we are convinced that the lack of regulation of internet gaming within the US must change," said billionaire Steve Wynn, chief executive of Wynn Resorts.
 
"We must recognize that this activity is occurring and that law enforcement does not have the tools to stop it. As a company that has safely conducted gaming in the US for more than 40 years, we believe that the same can be done for poker on the internet. Additionally, it is time that the thousands of jobs created by this business and the potentially significant tax dollars come home to the US.”
 
Wynn said his company and PokerStars aim to push for federal legalisation in the United States, then run a jointly named website for Americans branded PokerStarsWynn.com.
 
For Pokerstars, the announcement suggested that the online giant was hedging its bets - supporting both federal and intrastate legalisation solutions.
 
Mark Scheinberg, chairman and founder of PokerStars, said the alliance with Wynn is a critical step toward a closely regulated Internet gambling business in the United States.
 
“We have long supported the enactment of local regulatory regimes that protect consumers and provide valuable tax revenues and jobs," said Scheinberg.
 
"PokerStars is closely regulated in many European countries and it has been endorsing the adoption of the same approach in the United States for years, with this alliance representing a critical step in that direction. We are excited about the opportunities that partnering with Wynn, a pioneering leader and innovator in gaming, will present for PokerStars in the United States.
 
“These opportunities include the rapid ramp-up in hiring of a large number of professionals in this growing global technology and services sector that will benefit from US talent to keep up with global demand.”

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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