PokerStars, Full Tilt get New Jersey approval

David Baazov, Amaya’s chair and chief executive officer commented on the license approval, “We are very pleased to add New Jersey to the long list of regulated markets that have found PokerStars and Full Tilt suitable to offer real-money online gaming”, Mr. Baazov continued, “Since the acquisition, we have consistently delivered on our stated strategy”. The existing partnership with Resorts Casino Hotel in Atlantic City will fulfill the required partnering by the regulatory body.

In any event, other states contemplating ipoker regulation who leaned toward PokerStars perhaps being in the wrong seemingly no longer have that argument in their favor after the lengthy review and approval issued by the NJDGE.

“It may mean the end of at least one of the online poker sites in the state with the expectation that PokerStars will dominate market share in the market”, said Kevin Mathers, a manager with the PocketFives poker website. At that time, the two brands were owned by PokerStars’ original founders, the Scheinbergs, but the brands moved to Amaya in the summer of 2014 following a $5 billion reverse takeover by the Canadian gambling firm. The company hasn’t said when it intends to launch in New Jersey. It’s unknown whether or not PokerStars and Full Tilt will offer such games, though it’s certainly possible as both clients have that capability.

Already an active player in New Jersey’s online casino market thanks to a similar partnership with Sportech, Resorts should be equipped to help PokerStars go live before the close of 2015. We anticipate providing additional details of our launch plans in the near future.

On Thursday, Amaya received approval by the New Jersey Division of Gaming Enforcement to operate PokerStars in New Jersey.

PokerStars tried to buy the Atlantic Club Casino, but that deal fell apart and the casino shut down in January 2014. When online gambling became legal in the state in late 2013, PokerStars wanted to get in on the act, but with its previous legal problems with the USA government, things didn’t look extremely promising.

However, industry analysts say that while the financial returns from New Jersey are relatively small they could provide a springboard for the company as other states regulate online gaming.

The power of the PokerStars brand is expected to lure players away from unlicensed, offshore operators and reinvigorate the industry with its unparalleled marketing spend and major brand recognition.

A specific launch date for the two gaming sites has not yet been announced. He expects the USA poker market to be worth $2.7 billion by 2020.

Participation in online poker in New Jersey has so far been a dud.