Wynn And Pokerstars Joining Forces To Crack The U.S. Online Poker Market
It’s a time when many of the world leading gaming companies from both the land-based and online sectors are joining forces, Bwin and Party Gaming, 888 and Caesars Entertainment and now it would appear a new team has sprung up. Wynn Resorts Ltd have today announced a strategic partnership with the worlds biggest online poker site, Pokerstars.
The two gaming companies are looking to help secure federal legislation that will allow them to operate a legal, regulated online poker site in the U.S. under the name of PokerstarsWynn.com.
Wynn Resorts has said that they will be lobbying for the federal legalization of online poker, with a view to working with Pokerstars who are currently based in the Isle of Man. A popular home for many of the worlds biggest and most renowned gaming companies with it’s particularly favourable taxation rates for off shore gambling companies.
Mr Wynn has been fiercely opposed to Internet gambling in the past, so does this change of heart set the stage for more of the Las Vegas big boys positioning themselves with some of the online worlds heavyweights ready for U.S. legalization? Wynn and Pokerstars, 888 and Caesars, who will be next?
If all goes to plan it could be a very successful teaming, a global land-based giant and the world biggest online poker site already extremely popular with U.S. online poker players. Where better to get your Hold’em kicks!
Both Mr Wynn, Chairman of Wynn Reasorts and Mr Scheinberg, Chairman and founder of Pokerstars have spoken out about the possible joint venture between the two gaming companies.
After much study, we are convinced that the lack of regulation of Internet gaming within the US 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, commented Mr Wynn, Chairman and CEO of Wynn. Additionally, it is time that the thousands of jobs created by this business and the potentially significant tax dollars come home to the US,
Mark Scheinberg, Founder and Chairman of PokerStars, said, 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 numbers of professionals in this growing global technology and services sector that will benefit from US talent to keep up with global demand.
The first move both companies have said they will to make, is to work towards building federal legislation that will allow Internet gambling to operate legally within the U.S.A. Both Wynn and Pokerstars said in a press release about 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.