It's funny, because in Macau PokerStars has a partnership with the casino around the corner from the Wynn, known as the Grand Lisboa, and no presence in the Wynn at all. Guess that will be changing on my next trip down south.
In what appears to be a game-changing move for online poker in the United States, Wynn Resorts and PokerStars announced a “strategic relationship” on Thursday night.
The purpose of the partnership appears to be twofold: to work toward legalization and regulation in the United States, and to partner together once that regulated environment is created.
From a press release on the partnership:
The companies will first work to secure the passage of federal legislation that will finally and conclusively define illegal internet gambling, provide law enforcement with the tools necessary to stop illegal internet gambling, protect consumers by establishing a robust regulatory environment for the safe operation of online poker by experienced operators, and establish a regime for the assessment and collection of taxes.
The release also announced that Wynn and PokerStars would jointly operate an online poker site with the domain of PokerStarsWynn.com if and when regulation passes.
The move marks the first time that a United States casino has publicly made a push for online poker regulation in the U.S. It also comes on the heels of the introduction of a new bill in the U.S. Congress that would regulate and legalize online poker. H.R. 1174, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act, was introduced by Rep. John Campbell (R-Calif.). It is identical to a bill that passed the House Financial Services Committee last summer but did not reach the House floor.
PokerStars currently works under several regulatory frameworks in other countries, such as PokerStars.fr for France and PokerStars.it in Italy.
Stephen A. Wynn, Chairman and Chief Executive Officer of Wynn, elaborated on the partnership:
“After much study, we are convinced that the lack of regulation of internet gaming within the U.S. must change. 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.”
Amd Mark Scheinberg, Chairman and Founder of PokerStars:
“We have long supported the enactment of local regulatory regimes that protect consumers and provide valuable tax revenues and jobs. 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.”
March 25, 2011 — Wynn Resorts, Limited announced today that it has entered into a strategic relationship with PokerStars, the world's largest online poker business.
April 15, 2011 — Wynn Resorts, Limited announced today that it terminated its alliance with PokerStars, the online poker company. The decision was reached as a result of the indictment unsealed by the U.S. Attorney for the Southern District of New York. :arghh:
I think the U.S. feds are just hungry to make back the 3 billion their gov't gave to GE as a tax return even though they apparently havent payed their taxes since 05' and made 28 billion! Its gonna be interesting to see what happens tho, as all of these sites are under the canadian kahnawake gaming commision, which is run on a first nations reserve. Hope someone in our gov't doesnt get ancy
Comments
It's funny, because in Macau PokerStars has a partnership with the casino around the corner from the Wynn, known as the Grand Lisboa, and no presence in the Wynn at all. Guess that will be changing on my next trip down south.
pretty much
The purpose of the partnership appears to be twofold: to work toward legalization and regulation in the United States, and to partner together once that regulated environment is created.
From a press release on the partnership:
The move marks the first time that a United States casino has publicly made a push for online poker regulation in the U.S. It also comes on the heels of the introduction of a new bill in the U.S. Congress that would regulate and legalize online poker. H.R. 1174, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act, was introduced by Rep. John Campbell (R-Calif.). It is identical to a bill that passed the House Financial Services Committee last summer but did not reach the House floor.
PokerStars currently works under several regulatory frameworks in other countries, such as PokerStars.fr for France and PokerStars.it in Italy.
Stephen A. Wynn, Chairman and Chief Executive Officer of Wynn, elaborated on the partnership:
April 15, 2011 — Wynn Resorts, Limited announced today that it terminated its alliance with PokerStars, the online poker company. The decision was reached as a result of the indictment unsealed by the U.S. Attorney for the Southern District of New York. :arghh:
Post #7 in this thread states that