SlideShare a Scribd company logo
1 of 3
Download to read offline
June 23, 2014 9:56 pm
PokerStars shows
„game changer‟ hand
to US
By Aaron Stanley in Washington
©AFP
The new owner of PokerStars, who bought the world‟s biggest online poker website
this month for $4.9bn, is mounting a forceful campaign against opponents seeking to
keep the company out of the growing US online gambling market.
PokerStars, blackballed by state regulators after a 2011 crackdown by the
Department of Justice, has been on the losing end of drawn-out licensing battles with
New Jersey, Nevada and Delaware, the three states that have legalised online
gambling.
Now, it is locked in a fight against Indian tribes in California keen to legalise online
poker but keep PokerStars out via a “bad actor” clause in the proposed legislation
that would bar operators which operated illegally in the US after 2006.
The takeover of the group by Amaya Gaming, a Montreal-based gaming equipment
supplier, is seen by analysts as the key to unlocking the door to these licence deals.
“Under the Amaya acquisition agreement, PokerStars‟ owners will cut ties to the
company (although management will be kept in place), which may allow them to get
licensed,” Fitch Ratings said in a statement. A PokerStars re-entry into the US would
be a “game changer”, it added.
PokerStars has recruited one of the most eminent professors of US constitutional law
to counter rivals‟ campaigns to halt its return to US online poker.
Laurence Tribe, Harvard Law professor, has begun attacking attempts by PokerStars‟
rivals to label the company a “bad actor”, saying such language is unconstitutional.
The company‟s approach may be working – PokerStars last week reopened licensing
negotiations with New Jersey gambling regulators. However, being shut out of
California, widely considered to be the potential crown jewel of the US online gaming
market, would render it extremely difficult to enter states that adopt internet poker
in the future.
“What we talk about is the domino effect – that [states] by and large copy each
other,” said one state gaming regulator. “That means if you get in trouble in one
jurisdiction, you have to explain it in another.”
PokerStars is the world‟s largest online poker provider, with more than 90m players
and 11 operating licences worldwide. The company was exiled from the US after a
2011 Justice Department crackdown on offshore online poker operators.
In 2012 it settled charges of bank fraud, money laundering and other violations of
gambling regulations for $731m without admitting wrongdoing. The sum included
the acquisition of Full Tilt, PokerStars‟ main competitor, which was also a subject of
the crackdown.
While the company maintains that it did not do anything wrong, two of its
executives, including founder Isai Scheinberg, are still under indictment in the US,
though Mr Scheinberg has denied the charges.
Under the umbrella of Amaya Gaming, PokerStars is confident it will be able to heal
its old wounds.
“The agreement with Amaya will strengthen our business coalition in California,”
said PokerStars spokesman Eric Hollreiser, in reference to an agreement it forged
with one of the state‟s major gaming tribes this spring.
The first test will come in New Jersey, which suspended PokerStars‟ licence
application last year over the lingering Scheinberg indictment.
New Jersey “will be one of the first in the United States to take a bite out of the
suitability apple for this new entity. Certainly their view will be an important
determinant of the ability of this new entity to participate in regulated gaming in the
US,” said Richard Schuetz, a commissioner on the California Gambling Control
Commission.
While New Jersey will be the litmus test, the prize is still California and its
population of 38m. But for competitive reasons, 13 of the state‟s 14 gaming tribes are
determined to keep PokerStars out via the “bad actor” clause embedded in the
legislation. Unlike in other states, Indian tribes in California maintain exclusive
control over gambling.
“It would be hard for anyone to say that this is targeted to anyone else besides one
company,” said John Pappas, executive director of the Poker Players Alliance. “They
have singled out PokerStars as the „bad actor‟.”
While PokerStars blasted the language as protectionist and unconstitutional, the
tribes argue that they must protect their turf or risk losing one of their few means of
economic livelihood.
The tribes “are worried someone is going to come in and cut their throats during the
night”, said Victor Rocha, a veteran of Indian gaming politics in California. “They
have always been very protective of gaming because it is the only thing that has
allowed them to thrive.”

More Related Content

Viewers also liked

Bettor Systems Gaming
Bettor Systems GamingBettor Systems Gaming
Bettor Systems GamingGreg Bauer
 
Lean Leaders Business Development Pack
Lean Leaders Business Development PackLean Leaders Business Development Pack
Lean Leaders Business Development PackKim Vigilia
 
Jeff ifrah - Ifrah Law
Jeff ifrah - Ifrah LawJeff ifrah - Ifrah Law
Jeff ifrah - Ifrah LawKim Vigilia
 
Paper: Crypto Currency Mining
Paper: Crypto Currency MiningPaper: Crypto Currency Mining
Paper: Crypto Currency MiningHugo Rodrigues
 
Escorrentía superficial y aguas subterráneas
Escorrentía superficial y aguas subterráneasEscorrentía superficial y aguas subterráneas
Escorrentía superficial y aguas subterráneasPokerStars.net
 

Viewers also liked (8)

Bettor Systems Gaming
Bettor Systems GamingBettor Systems Gaming
Bettor Systems Gaming
 
Lean Leaders Business Development Pack
Lean Leaders Business Development PackLean Leaders Business Development Pack
Lean Leaders Business Development Pack
 
Jeff ifrah - Ifrah Law
Jeff ifrah - Ifrah LawJeff ifrah - Ifrah Law
Jeff ifrah - Ifrah Law
 
Lixiviados
Lixiviados Lixiviados
Lixiviados
 
Paper: Crypto Currency Mining
Paper: Crypto Currency MiningPaper: Crypto Currency Mining
Paper: Crypto Currency Mining
 
Escorrentía superficial y aguas subterráneas
Escorrentía superficial y aguas subterráneasEscorrentía superficial y aguas subterráneas
Escorrentía superficial y aguas subterráneas
 
Lixiviados
Lixiviados Lixiviados
Lixiviados
 
Rebeca torrent cv
Rebeca torrent cvRebeca torrent cv
Rebeca torrent cv
 

Similar to PokerStars shows ‘game changer’ hand to US

Casino owners battle over online gambling 14-02-12
Casino owners battle over online gambling 14-02-12Casino owners battle over online gambling 14-02-12
Casino owners battle over online gambling 14-02-12Oliver Grave
 
Online Sports Betting - Don't Bet Against it!
Online Sports Betting - Don't Bet Against it!Online Sports Betting - Don't Bet Against it!
Online Sports Betting - Don't Bet Against it!Official Sports Betting
 
Stars Wars - A Business Analysis Report on the Amaya Online Poker Crisis
Stars Wars - A Business Analysis Report on the Amaya Online Poker CrisisStars Wars - A Business Analysis Report on the Amaya Online Poker Crisis
Stars Wars - A Business Analysis Report on the Amaya Online Poker CrisisLuke Slisz
 
U.S. Enforcement Efforts Likely to Curtail Business Travel Rather than Online...
U.S. Enforcement Efforts Likely to Curtail Business Travel Rather than Online...U.S. Enforcement Efforts Likely to Curtail Business Travel Rather than Online...
U.S. Enforcement Efforts Likely to Curtail Business Travel Rather than Online...Gaming Research Partners
 
Legalizing Sports Wagering…A long shot, but don’t bet against it!
Legalizing Sports Wagering…A long shot, but don’t bet against it!Legalizing Sports Wagering…A long shot, but don’t bet against it!
Legalizing Sports Wagering…A long shot, but don’t bet against it!beckerpoliakoff
 

Similar to PokerStars shows ‘game changer’ hand to US (6)

Casino owners battle over online gambling 14-02-12
Casino owners battle over online gambling 14-02-12Casino owners battle over online gambling 14-02-12
Casino owners battle over online gambling 14-02-12
 
Online Sports Betting - Don't Bet Against it!
Online Sports Betting - Don't Bet Against it!Online Sports Betting - Don't Bet Against it!
Online Sports Betting - Don't Bet Against it!
 
Stars Wars - A Business Analysis Report on the Amaya Online Poker Crisis
Stars Wars - A Business Analysis Report on the Amaya Online Poker CrisisStars Wars - A Business Analysis Report on the Amaya Online Poker Crisis
Stars Wars - A Business Analysis Report on the Amaya Online Poker Crisis
 
U.S. Enforcement Efforts Likely to Curtail Business Travel Rather than Online...
U.S. Enforcement Efforts Likely to Curtail Business Travel Rather than Online...U.S. Enforcement Efforts Likely to Curtail Business Travel Rather than Online...
U.S. Enforcement Efforts Likely to Curtail Business Travel Rather than Online...
 
Legalizing Sports Wagering…A long shot, but don’t bet against it!
Legalizing Sports Wagering…A long shot, but don’t bet against it!Legalizing Sports Wagering…A long shot, but don’t bet against it!
Legalizing Sports Wagering…A long shot, but don’t bet against it!
 
InterGamingi Article
InterGamingi ArticleInterGamingi Article
InterGamingi Article
 

More from Oliver Grave

List of-approved-philippine-offshore-gaming-operators
List of-approved-philippine-offshore-gaming-operatorsList of-approved-philippine-offshore-gaming-operators
List of-approved-philippine-offshore-gaming-operatorsOliver Grave
 
Global Powers of Retailing Deloitte 2018
Global Powers of Retailing Deloitte 2018Global Powers of Retailing Deloitte 2018
Global Powers of Retailing Deloitte 2018Oliver Grave
 
Gaming For Africa August / September 2017
Gaming For Africa August / September 2017Gaming For Africa August / September 2017
Gaming For Africa August / September 2017Oliver Grave
 
2017 Global Retail Development Index - ATKearney
2017 Global Retail Development Index - ATKearney2017 Global Retail Development Index - ATKearney
2017 Global Retail Development Index - ATKearneyOliver Grave
 
Major Gaming Operations - AMERCIAS
Major Gaming Operations - AMERCIASMajor Gaming Operations - AMERCIAS
Major Gaming Operations - AMERCIASOliver Grave
 
Major Gaming Operations - ASIA / EURASIA
Major Gaming Operations - ASIA / EURASIAMajor Gaming Operations - ASIA / EURASIA
Major Gaming Operations - ASIA / EURASIAOliver Grave
 
Major Gaming Operations - EUROPE
Major Gaming Operations - EUROPEMajor Gaming Operations - EUROPE
Major Gaming Operations - EUROPEOliver Grave
 
Major Gaming Operations - AFRICA
Major Gaming Operations - AFRICAMajor Gaming Operations - AFRICA
Major Gaming Operations - AFRICAOliver Grave
 
Deloitte Global-Powers-of-Retailing 2017
Deloitte Global-Powers-of-Retailing 2017Deloitte Global-Powers-of-Retailing 2017
Deloitte Global-Powers-of-Retailing 2017Oliver Grave
 
Payments & Infrastructure - Part II. Verifone
Payments & Infrastructure - Part II. VerifonePayments & Infrastructure - Part II. Verifone
Payments & Infrastructure - Part II. VerifoneOliver Grave
 
Payments & Infrastructure - Part I. Verifone
Payments & Infrastructure - Part I. VerifonePayments & Infrastructure - Part I. Verifone
Payments & Infrastructure - Part I. VerifoneOliver Grave
 
eGaming Summit KPMG 2016
eGaming Summit KPMG 2016eGaming Summit KPMG 2016
eGaming Summit KPMG 2016Oliver Grave
 
Off Grid Solar Market Trends 2016 - Bloomberg - World Bank
Off Grid Solar Market Trends 2016 - Bloomberg - World BankOff Grid Solar Market Trends 2016 - Bloomberg - World Bank
Off Grid Solar Market Trends 2016 - Bloomberg - World BankOliver Grave
 
The WLA Global Lottery Data 2015
The WLA Global Lottery Data 2015The WLA Global Lottery Data 2015
The WLA Global Lottery Data 2015Oliver Grave
 
Shopping in America - Between Bentonville and Bezos - The Economist
Shopping in America - Between Bentonville and Bezos - The EconomistShopping in America - Between Bentonville and Bezos - The Economist
Shopping in America - Between Bentonville and Bezos - The EconomistOliver Grave
 
iTNERGAMING 04-2016
iTNERGAMING 04-2016iTNERGAMING 04-2016
iTNERGAMING 04-2016Oliver Grave
 
THE ECONOMIST - CREATING GROWTH IN A FLAT WORLD
THE ECONOMIST - CREATING GROWTH IN A FLAT WORLDTHE ECONOMIST - CREATING GROWTH IN A FLAT WORLD
THE ECONOMIST - CREATING GROWTH IN A FLAT WORLDOliver Grave
 
The 2016 Global Retail Development Index - ATKearney 2016
The 2016 Global Retail Development Index - ATKearney 2016The 2016 Global Retail Development Index - ATKearney 2016
The 2016 Global Retail Development Index - ATKearney 2016Oliver Grave
 
State of the Web in 2016 - Mary Meeker
State of the Web in 2016 - Mary MeekerState of the Web in 2016 - Mary Meeker
State of the Web in 2016 - Mary MeekerOliver Grave
 
PwC Consumer Intelligence eSports
PwC Consumer Intelligence eSportsPwC Consumer Intelligence eSports
PwC Consumer Intelligence eSportsOliver Grave
 

More from Oliver Grave (20)

List of-approved-philippine-offshore-gaming-operators
List of-approved-philippine-offshore-gaming-operatorsList of-approved-philippine-offshore-gaming-operators
List of-approved-philippine-offshore-gaming-operators
 
Global Powers of Retailing Deloitte 2018
Global Powers of Retailing Deloitte 2018Global Powers of Retailing Deloitte 2018
Global Powers of Retailing Deloitte 2018
 
Gaming For Africa August / September 2017
Gaming For Africa August / September 2017Gaming For Africa August / September 2017
Gaming For Africa August / September 2017
 
2017 Global Retail Development Index - ATKearney
2017 Global Retail Development Index - ATKearney2017 Global Retail Development Index - ATKearney
2017 Global Retail Development Index - ATKearney
 
Major Gaming Operations - AMERCIAS
Major Gaming Operations - AMERCIASMajor Gaming Operations - AMERCIAS
Major Gaming Operations - AMERCIAS
 
Major Gaming Operations - ASIA / EURASIA
Major Gaming Operations - ASIA / EURASIAMajor Gaming Operations - ASIA / EURASIA
Major Gaming Operations - ASIA / EURASIA
 
Major Gaming Operations - EUROPE
Major Gaming Operations - EUROPEMajor Gaming Operations - EUROPE
Major Gaming Operations - EUROPE
 
Major Gaming Operations - AFRICA
Major Gaming Operations - AFRICAMajor Gaming Operations - AFRICA
Major Gaming Operations - AFRICA
 
Deloitte Global-Powers-of-Retailing 2017
Deloitte Global-Powers-of-Retailing 2017Deloitte Global-Powers-of-Retailing 2017
Deloitte Global-Powers-of-Retailing 2017
 
Payments & Infrastructure - Part II. Verifone
Payments & Infrastructure - Part II. VerifonePayments & Infrastructure - Part II. Verifone
Payments & Infrastructure - Part II. Verifone
 
Payments & Infrastructure - Part I. Verifone
Payments & Infrastructure - Part I. VerifonePayments & Infrastructure - Part I. Verifone
Payments & Infrastructure - Part I. Verifone
 
eGaming Summit KPMG 2016
eGaming Summit KPMG 2016eGaming Summit KPMG 2016
eGaming Summit KPMG 2016
 
Off Grid Solar Market Trends 2016 - Bloomberg - World Bank
Off Grid Solar Market Trends 2016 - Bloomberg - World BankOff Grid Solar Market Trends 2016 - Bloomberg - World Bank
Off Grid Solar Market Trends 2016 - Bloomberg - World Bank
 
The WLA Global Lottery Data 2015
The WLA Global Lottery Data 2015The WLA Global Lottery Data 2015
The WLA Global Lottery Data 2015
 
Shopping in America - Between Bentonville and Bezos - The Economist
Shopping in America - Between Bentonville and Bezos - The EconomistShopping in America - Between Bentonville and Bezos - The Economist
Shopping in America - Between Bentonville and Bezos - The Economist
 
iTNERGAMING 04-2016
iTNERGAMING 04-2016iTNERGAMING 04-2016
iTNERGAMING 04-2016
 
THE ECONOMIST - CREATING GROWTH IN A FLAT WORLD
THE ECONOMIST - CREATING GROWTH IN A FLAT WORLDTHE ECONOMIST - CREATING GROWTH IN A FLAT WORLD
THE ECONOMIST - CREATING GROWTH IN A FLAT WORLD
 
The 2016 Global Retail Development Index - ATKearney 2016
The 2016 Global Retail Development Index - ATKearney 2016The 2016 Global Retail Development Index - ATKearney 2016
The 2016 Global Retail Development Index - ATKearney 2016
 
State of the Web in 2016 - Mary Meeker
State of the Web in 2016 - Mary MeekerState of the Web in 2016 - Mary Meeker
State of the Web in 2016 - Mary Meeker
 
PwC Consumer Intelligence eSports
PwC Consumer Intelligence eSportsPwC Consumer Intelligence eSports
PwC Consumer Intelligence eSports
 

Recently uploaded

The Universal GTM - how we design GTM and dataLayer
The Universal GTM - how we design GTM and dataLayerThe Universal GTM - how we design GTM and dataLayer
The Universal GTM - how we design GTM and dataLayerPavel Šabatka
 
MEASURES OF DISPERSION I BSc Botany .ppt
MEASURES OF DISPERSION I BSc Botany .pptMEASURES OF DISPERSION I BSc Botany .ppt
MEASURES OF DISPERSION I BSc Botany .pptaigil2
 
Virtuosoft SmartSync Product Introduction
Virtuosoft SmartSync Product IntroductionVirtuosoft SmartSync Product Introduction
Virtuosoft SmartSync Product Introductionsanjaymuralee1
 
TINJUAN PEMROSESAN TRANSAKSI DAN ERP.pptx
TINJUAN PEMROSESAN TRANSAKSI DAN ERP.pptxTINJUAN PEMROSESAN TRANSAKSI DAN ERP.pptx
TINJUAN PEMROSESAN TRANSAKSI DAN ERP.pptxDwiAyuSitiHartinah
 
Strategic CX: A Deep Dive into Voice of the Customer Insights for Clarity
Strategic CX: A Deep Dive into Voice of the Customer Insights for ClarityStrategic CX: A Deep Dive into Voice of the Customer Insights for Clarity
Strategic CX: A Deep Dive into Voice of the Customer Insights for ClarityAggregage
 
CI, CD -Tools to integrate without manual intervention
CI, CD -Tools to integrate without manual interventionCI, CD -Tools to integrate without manual intervention
CI, CD -Tools to integrate without manual interventionajayrajaganeshkayala
 
How is Real-Time Analytics Different from Traditional OLAP?
How is Real-Time Analytics Different from Traditional OLAP?How is Real-Time Analytics Different from Traditional OLAP?
How is Real-Time Analytics Different from Traditional OLAP?sonikadigital1
 
YourView Panel Book.pptx YourView Panel Book.
YourView Panel Book.pptx YourView Panel Book.YourView Panel Book.pptx YourView Panel Book.
YourView Panel Book.pptx YourView Panel Book.JasonViviers2
 
ChistaDATA Real-Time DATA Analytics Infrastructure
ChistaDATA Real-Time DATA Analytics InfrastructureChistaDATA Real-Time DATA Analytics Infrastructure
ChistaDATA Real-Time DATA Analytics Infrastructuresonikadigital1
 
Master's Thesis - Data Science - Presentation
Master's Thesis - Data Science - PresentationMaster's Thesis - Data Science - Presentation
Master's Thesis - Data Science - PresentationGiorgio Carbone
 
Cash Is Still King: ATM market research '2023
Cash Is Still King: ATM market research '2023Cash Is Still King: ATM market research '2023
Cash Is Still King: ATM market research '2023Vladislav Solodkiy
 
Elements of language learning - an analysis of how different elements of lang...
Elements of language learning - an analysis of how different elements of lang...Elements of language learning - an analysis of how different elements of lang...
Elements of language learning - an analysis of how different elements of lang...PrithaVashisht1
 
5 Ds to Define Data Archiving Best Practices
5 Ds to Define Data Archiving Best Practices5 Ds to Define Data Archiving Best Practices
5 Ds to Define Data Archiving Best PracticesDataArchiva
 
Persuasive E-commerce, Our Biased Brain @ Bikkeldag 2024
Persuasive E-commerce, Our Biased Brain @ Bikkeldag 2024Persuasive E-commerce, Our Biased Brain @ Bikkeldag 2024
Persuasive E-commerce, Our Biased Brain @ Bikkeldag 2024Guido X Jansen
 
SFBA Splunk Usergroup meeting March 13, 2024
SFBA Splunk Usergroup meeting March 13, 2024SFBA Splunk Usergroup meeting March 13, 2024
SFBA Splunk Usergroup meeting March 13, 2024Becky Burwell
 
Mapping the pubmed data under different suptopics using NLP.pptx
Mapping the pubmed data under different suptopics using NLP.pptxMapping the pubmed data under different suptopics using NLP.pptx
Mapping the pubmed data under different suptopics using NLP.pptxVenkatasubramani13
 
AI for Sustainable Development Goals (SDGs)
AI for Sustainable Development Goals (SDGs)AI for Sustainable Development Goals (SDGs)
AI for Sustainable Development Goals (SDGs)Data & Analytics Magazin
 

Recently uploaded (17)

The Universal GTM - how we design GTM and dataLayer
The Universal GTM - how we design GTM and dataLayerThe Universal GTM - how we design GTM and dataLayer
The Universal GTM - how we design GTM and dataLayer
 
MEASURES OF DISPERSION I BSc Botany .ppt
MEASURES OF DISPERSION I BSc Botany .pptMEASURES OF DISPERSION I BSc Botany .ppt
MEASURES OF DISPERSION I BSc Botany .ppt
 
Virtuosoft SmartSync Product Introduction
Virtuosoft SmartSync Product IntroductionVirtuosoft SmartSync Product Introduction
Virtuosoft SmartSync Product Introduction
 
TINJUAN PEMROSESAN TRANSAKSI DAN ERP.pptx
TINJUAN PEMROSESAN TRANSAKSI DAN ERP.pptxTINJUAN PEMROSESAN TRANSAKSI DAN ERP.pptx
TINJUAN PEMROSESAN TRANSAKSI DAN ERP.pptx
 
Strategic CX: A Deep Dive into Voice of the Customer Insights for Clarity
Strategic CX: A Deep Dive into Voice of the Customer Insights for ClarityStrategic CX: A Deep Dive into Voice of the Customer Insights for Clarity
Strategic CX: A Deep Dive into Voice of the Customer Insights for Clarity
 
CI, CD -Tools to integrate without manual intervention
CI, CD -Tools to integrate without manual interventionCI, CD -Tools to integrate without manual intervention
CI, CD -Tools to integrate without manual intervention
 
How is Real-Time Analytics Different from Traditional OLAP?
How is Real-Time Analytics Different from Traditional OLAP?How is Real-Time Analytics Different from Traditional OLAP?
How is Real-Time Analytics Different from Traditional OLAP?
 
YourView Panel Book.pptx YourView Panel Book.
YourView Panel Book.pptx YourView Panel Book.YourView Panel Book.pptx YourView Panel Book.
YourView Panel Book.pptx YourView Panel Book.
 
ChistaDATA Real-Time DATA Analytics Infrastructure
ChistaDATA Real-Time DATA Analytics InfrastructureChistaDATA Real-Time DATA Analytics Infrastructure
ChistaDATA Real-Time DATA Analytics Infrastructure
 
Master's Thesis - Data Science - Presentation
Master's Thesis - Data Science - PresentationMaster's Thesis - Data Science - Presentation
Master's Thesis - Data Science - Presentation
 
Cash Is Still King: ATM market research '2023
Cash Is Still King: ATM market research '2023Cash Is Still King: ATM market research '2023
Cash Is Still King: ATM market research '2023
 
Elements of language learning - an analysis of how different elements of lang...
Elements of language learning - an analysis of how different elements of lang...Elements of language learning - an analysis of how different elements of lang...
Elements of language learning - an analysis of how different elements of lang...
 
5 Ds to Define Data Archiving Best Practices
5 Ds to Define Data Archiving Best Practices5 Ds to Define Data Archiving Best Practices
5 Ds to Define Data Archiving Best Practices
 
Persuasive E-commerce, Our Biased Brain @ Bikkeldag 2024
Persuasive E-commerce, Our Biased Brain @ Bikkeldag 2024Persuasive E-commerce, Our Biased Brain @ Bikkeldag 2024
Persuasive E-commerce, Our Biased Brain @ Bikkeldag 2024
 
SFBA Splunk Usergroup meeting March 13, 2024
SFBA Splunk Usergroup meeting March 13, 2024SFBA Splunk Usergroup meeting March 13, 2024
SFBA Splunk Usergroup meeting March 13, 2024
 
Mapping the pubmed data under different suptopics using NLP.pptx
Mapping the pubmed data under different suptopics using NLP.pptxMapping the pubmed data under different suptopics using NLP.pptx
Mapping the pubmed data under different suptopics using NLP.pptx
 
AI for Sustainable Development Goals (SDGs)
AI for Sustainable Development Goals (SDGs)AI for Sustainable Development Goals (SDGs)
AI for Sustainable Development Goals (SDGs)
 

PokerStars shows ‘game changer’ hand to US

  • 1. June 23, 2014 9:56 pm PokerStars shows „game changer‟ hand to US By Aaron Stanley in Washington ©AFP The new owner of PokerStars, who bought the world‟s biggest online poker website this month for $4.9bn, is mounting a forceful campaign against opponents seeking to keep the company out of the growing US online gambling market. PokerStars, blackballed by state regulators after a 2011 crackdown by the Department of Justice, has been on the losing end of drawn-out licensing battles with New Jersey, Nevada and Delaware, the three states that have legalised online gambling. Now, it is locked in a fight against Indian tribes in California keen to legalise online poker but keep PokerStars out via a “bad actor” clause in the proposed legislation that would bar operators which operated illegally in the US after 2006. The takeover of the group by Amaya Gaming, a Montreal-based gaming equipment supplier, is seen by analysts as the key to unlocking the door to these licence deals. “Under the Amaya acquisition agreement, PokerStars‟ owners will cut ties to the company (although management will be kept in place), which may allow them to get licensed,” Fitch Ratings said in a statement. A PokerStars re-entry into the US would be a “game changer”, it added. PokerStars has recruited one of the most eminent professors of US constitutional law to counter rivals‟ campaigns to halt its return to US online poker.
  • 2. Laurence Tribe, Harvard Law professor, has begun attacking attempts by PokerStars‟ rivals to label the company a “bad actor”, saying such language is unconstitutional. The company‟s approach may be working – PokerStars last week reopened licensing negotiations with New Jersey gambling regulators. However, being shut out of California, widely considered to be the potential crown jewel of the US online gaming market, would render it extremely difficult to enter states that adopt internet poker in the future. “What we talk about is the domino effect – that [states] by and large copy each other,” said one state gaming regulator. “That means if you get in trouble in one jurisdiction, you have to explain it in another.” PokerStars is the world‟s largest online poker provider, with more than 90m players and 11 operating licences worldwide. The company was exiled from the US after a 2011 Justice Department crackdown on offshore online poker operators. In 2012 it settled charges of bank fraud, money laundering and other violations of gambling regulations for $731m without admitting wrongdoing. The sum included the acquisition of Full Tilt, PokerStars‟ main competitor, which was also a subject of the crackdown. While the company maintains that it did not do anything wrong, two of its executives, including founder Isai Scheinberg, are still under indictment in the US, though Mr Scheinberg has denied the charges. Under the umbrella of Amaya Gaming, PokerStars is confident it will be able to heal its old wounds. “The agreement with Amaya will strengthen our business coalition in California,” said PokerStars spokesman Eric Hollreiser, in reference to an agreement it forged with one of the state‟s major gaming tribes this spring. The first test will come in New Jersey, which suspended PokerStars‟ licence application last year over the lingering Scheinberg indictment. New Jersey “will be one of the first in the United States to take a bite out of the suitability apple for this new entity. Certainly their view will be an important determinant of the ability of this new entity to participate in regulated gaming in the US,” said Richard Schuetz, a commissioner on the California Gambling Control Commission.
  • 3. While New Jersey will be the litmus test, the prize is still California and its population of 38m. But for competitive reasons, 13 of the state‟s 14 gaming tribes are determined to keep PokerStars out via the “bad actor” clause embedded in the legislation. Unlike in other states, Indian tribes in California maintain exclusive control over gambling. “It would be hard for anyone to say that this is targeted to anyone else besides one company,” said John Pappas, executive director of the Poker Players Alliance. “They have singled out PokerStars as the „bad actor‟.” While PokerStars blasted the language as protectionist and unconstitutional, the tribes argue that they must protect their turf or risk losing one of their few means of economic livelihood. The tribes “are worried someone is going to come in and cut their throats during the night”, said Victor Rocha, a veteran of Indian gaming politics in California. “They have always been very protective of gaming because it is the only thing that has allowed them to thrive.”