New Jersey Regulators Release PokerStars ReportState Regulators Shows Details Of Investigation |
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On Friday, New Jersey gaming regulators released an 89-page report on the licensing of PokerStars and Full Tilt, two companies owned by Amaya Gaming Group.
The online gaming sites were approved last week and will partner with Resorts Casino Hotel Atlantic City in order to run their respective games. New Jersey legalized online gaming in early 2013. PokerStars and Full Tilt last took action from Americans in 2011 after being made to leave due to Black Friday.
The report said that both “conducted significant Internet gaming in the United States after the federal government made such gaming illegal.” Amaya bought the sites in 2014 for $4.9 billion.
The report explained: “While the PokerStars entities operated in violation of the law between 2006 and 2011, a number of considerations—including the severe criminal and civil sanctions imposed by the federal government, the complete and irrevocable separation of the previous owners and almost all of the former executives, the acquisition of the assets by Amaya and their incorporation into a robust compliance and control environment, as well as significant changes in the Internet gaming market since 2011–-lead to a finding of suitability.”
The report said that PokerStars had $44.3 million in revenue from New Jersey players from Oct. 2006 until April 2011. The New Jersey online poker market this year was $16,190,596 through August, down 23.2 percent from the same period in 2014.
The full report is below:
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