Online PokerStars Wants a Piece of US Gambling Pie

Published Saturday, December 08, 2012 -

PokerStars seems to have an agenda that is unlike all other online gambling operators. The recent news that the giant internet wagering poker company has plans to purchase a brick and mortar casino in New Jersey’s Atlantic city seems out of place with the concept of cyber gambling.

The legalization of internet wagering has been on the back burner for the jurisdiction of New Jersey where Atlantic City has been the focus of possible internet gambling server locations which would help the flagging fortunes of the ocean side city. The recent flooding caused by Hurricane Sandy hasn’t helped the economy at all.

A report in the Wall Street Journal says the Isle of Man based Poker Stars has been negotiating the purchase of the older casino formerly the Golden Nugget and then the Atlantic City Hilton from equity group owners Colony Capital for under fifty million US dollars. PokerStars managed a settlement with the department of Justice after they were indicted along with other online poker operators during the crackdown in April of 2011. PokerStars agreed to pay $731 million to the federal government in order to settle a nine-count criminal indictment. Whether the New Jersey Division of Gaming Enforcement will allow a license to be issued to PokerStars is questionable.

The Wall Street Journal reported that a "rigorous investigation" would be conducted of any license applicant, including PokerStars. Something also revealed by the news article is the fact that deal hinges on New Jersey legalizing online gaming within its borders where a proposed bill is currently in debate in their legislature. This maybe an attempt to get into the online poker business legally in New Jersey which in turn may open the door for PokerStars in the State of Nevada where sixteen licenses have been granted for legal real money internet poker in Nevada.

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