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No online poker in the US for PokerStars

By admin on 2013-12-19 13:22:16

PokerStars is in the Irish poker news recently for all the wrong reasons after an aborted attempt to buy the Atlantic Club Casino in Atlantic City New Jersey. The ultimate aim was to take advantage of the new online gaming laws in the state for which they lobbied hard and Pokerstars formed a partnership with another gaming operator Resorts casino to obtain a license however the license was refused to Pokerstars based on past history in the United States. It has been reported several times in the poker news that Pokerstars management was allegedly involved in circumventing the UIGEA (Unlawful Internet Gaming Enforcement Act) which made it illegal for banks to handle money destined for online gambling. The poker news reports that there was a federal indictment issued in 2011 against Isai Scheinberg, pokerstars founder, for money laundering and fraud after the bill was enactedwhich is still outstanding as he has refused to enter the USA to answer those charges. The company did settle another suit at a cost of some $550 million but part of that settlement was that Mr Scheinberg would take no management role in the company. It is reported in the Irish Poker news however that he did take a role in the attempted purchase of Atlantic Club Casino and this is one of the reasons why the license is being refused. This is a blow to PokerStars as the online poker market in New Jersey is set to increase rapidly. According to the poker news Resorts casino has been issued with a license but it is not sure whether they will seek another partner. Poke stars management said in the poker news that will continue with dialogue with the Division of Gaming Enforcement to resolve issue as soon as possible but it seems they will miss the boat at least for the foreseeable future.