PokerStars Won’t Come Back to the US Until 2016?
Updated June 13, 2014 – Pokerstars, also owner of Full Tilt Poker have sold their gambling business to Amaya Gaming for $4.9billion in a clear attempt to try and enter the U.S. under the pretense they are a ‘new company’. Pokerstars is making the biggest move in its time in business, but will the -bad actor- clause still haunt them, likely, but this sale technically nullifies those charges. California in fact, already has a law that voids ‘rinses’ like this in attempts to keep Pokerstars out but it appears Pokerstars will be back in the U.S.A shorter than the 2016 deadline. With new ownership will the site still be the same Pokerstars everyone loved?
Updated April 24, 2014 – Pokerstars has signed a deal with the Morongo Tribe with intent to facilitate online poker (via Pokerstars) for the tribe immediately upon California online poker regulation (when, not a matter of ‘if’). Competing poker sites are exacting the “bad actor clause” to keep them out of California (as was expected).
Pokerstars was denied a US NJ license on December 11th, 2013th for 2 (two) years, Pokerstars is still seeking counsel. The reason for the abnegated license – continued involvement of ‘ex’ owner Isai Sheinberg in company operations. Expect other states to distain Pokerstars as well in a form of ‘legally’ decreasing competition through American law and the bad actor clause. With new developments of the sale, we are awaiting a possible license in NJ.
I am recommending all players within NJ, NV or DE to play at the WSOP (site review) in the meantime. They have the largest ‘legalized and licensed’ real money player base at this time. If you are not in these states, mine, and most others recommendation is www.Betonline.ag as the safest offshore site to serve all 50 states. See our homepage for other recommendations.
Pokerstars has failed to acquire a license to operate within any of the US state borders as of latest update. While it remains the largest poker site on the internet at 33,000 average cash players – with nearest 2nd being only at 3,000 – they are being denied obtaining a license in New Jersey but have not applied in Nevada or Deleware, the only three states with legal internet poker. This license would have allowed Poker Stars to have games of real money for citizens of New Jersey where they were actively seeking a casino to buy but ended partnering with (Resorts Casino & Morongo Casino). Despite this, it has has failed to get them approved because of Isai Sheinberg and his failure to reside in full from the company activities. The sale of PokerStars changes the game.
It was said that, as of December 11th, 2013, PokerStars would NOT have a license for real money in New Jersey ( and probably all legal poker states) until the year 2016 when their holding period is removed. Again, this is subject to change because of the sale.
It is a pre-requisite for any online casino that operates with a US license to also have or be partners with a U.S. operated “on-land” casino. While this goes against Fair Trade Policies, the US government seems not to care.
When Will PokerStars Return to the US?
As it stands right now, PokerStars is set to be operating a poker site in New Jersey by the end of 2016 (exact date undetermined) and has not released their policy towards Nevada or Deleware expectations. Preliminary negotiations to purchase the Atlantic Club in NJ failed, but partnership with Resorts Casino has been crafted. The poker stars brand, which now consists of Full Tilt Poker is going to step to the back of the line because of their failed negotiations to partner or purchase a casino within the United States in a timely manner and past ownership involvements that shadow the site.
The brand was forced into a file labeled, “bad actor” clause, mentioned in recent law which made it harder for poker sites that operated in the US during illegal times to re-enter and in PokerStars’s case, despite having paid over an estimated $850m in fines publicly. Not to mention what has transpired behind closed doors.
Good Faith Will Not Prevail
PokerStars did a very good deed in bailing out defunct poker room Full Tilt Poker after they amounted a 9 figure debt in what the Department of Justice was calling a Ponzi Scheme. Those who are in the poker business know there was no Ponzi scheme. The main wrong doing of Full Tilt Poker (well, minus all the lies) was messing with the United States which continually seized funds meant for players – until they could no longer sustain the losses and were forced to shut down or sell to PokerStars. To this day players from the United States are still awaiting distribution of their funds from the seizure.
This act of good faith in which hundreds of millions were dealt back in the form of penalties and bailouts was still not good enough for US officials. As more and more casinos based in the USA secure their licenses to operate, PokerStars will have to wait two years, possible less, for theirs…
Author: Roger Shriver