Things are getting interesting in New Jersey

[The Buzz]

Now that New Jersey has passed legislation to regulate online gambling, the real battle has begun to see who is going to reap the rewards.

The American Gaming Association, which represents land-based commercial casino interests in the U.S., has filed a petition with New Jersey regulators, asking them to deny PokerStars request to buy The Atlantic Club Casino in Atlantic City. The purchase would give PokerStars the ability to apply for an online license in New Jersey. Obviously that would hurt the online business of Caesars, MGM, etc.

You can read the entire brief here: www.apcw.org/legal-documents/AGA-pokerstars-brief.pdf

PokerStars response? Spokesman Eric Hollreiser sums it up in one sentence.

"These are matters for expert regulators to determine, not self-interested partisans picking a public fight."

More from PokerStars here: http://blog.northjersey.com/meadowla...-casino-in-ac/

[The Buzz]

And then there's this ... apparently Caesars approached PokerStars to see if they'd be interested in buying the Rio All-Suite Hotel & Casino, the site of the World Series of Poker, last month.

“Caesars Entertainment approached PokerStars and offered to sell us certain assets, such as the Rio Casino in Las Vegas. Caesars suggested that this acquisition would give us a better relationship with Caesars and would help PokerStars gain a license in Nevada,” said Eric Hollreiser, a PokerStars spokesperson, in a statement. “PokerStars declined the offer because we had no plans to acquire another casino in the near term.”

Full story from Forbes here: http://www.forbes.com/sites/nathanva...to-new-jersey/

[boczom1]

hey now... that would be interesting.

So if PokerStars were to purchase....and use their current online gaming software for their land-based purchase....then affiliates would have a u.s. casino to promote ?

I'm not familiar with PokerStars though....or even if they allow u.s. affiliates to promote their products.

[Imperator]

If pokerstars get their hands on the land-based casino, which is an incredible bargain for so cheap...they will have the possibility to receive one of the new online gambling licenses NJ is about to start giving. Which means PS will run the only online poker room in NJ, and each state which recognizes the new NJ gambling law and the casino buy is just a drop in the water for them. This is the bigger picture

[denuz01]

I am reaping rewards if we talk about the value of some of my casino shares Never seen this much profit on my Plus500 account ever.

[slotplayer]

from what I read players would have to visit the land casino to open an online account.

[slotplayer]

from what I read players would have to visit the land casino to open an online account.

this is what I read fwiw:

Gamblers would have to set up online accounts with a particular casino, and could set daily limits on their play.
They also would be subject to the same per-hand limits as gamblers physically present in the casino. Casino executives say final rules have to be approved by the gambling enforcement division, but they expect the state to require gamblers to have to appear in person at a casino to open their accounts and verify their age, identity and other personal information. Payouts could be made remotely to a credit card account or bank account when a player cashes out, if the state approves such an arrangement, the executives said

[edgarf76]

they do however I believe that they only pay out with player accounts. If they changed anything keep me posted please