Wynn Resorts Aligns with PokerStars

The rumors are true..Wynn Resorts has aligned with online poker room PokerStars. On March 24, 2011, Wynn Resorts announced that they entered into a strategic relationship with PokerStars. Reports say that the step of this alliance is to secure passage of federal legislation that will regulate and taxation online gambling.

According to news source Reuters, Chairman and Chief Executive Officer Stephen A. Wynn stated “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. Additionally, it is time that the thousands of jobs created by this business and the potentially significant tax dollars come home to the US.”

PokerStars is the largest online poker site in the world with over 14 million players worldwide. However, if legislation passes and acquisition of the appropriate license happens, the two parties will jointly operate a regulated, US online poker site under the name PokerStarsWynn.com.

I am not too sure what I think about this, but I’m leaning towards thinking it can’t hurt to have a well known casino resort on the side of getting the current laws changed. At the same time though, is this just a way that PokerStars sees of getting around what the justice system here in the U.S. might consider past criminal behavior? Some of the proposed online gambling bills that will legalize funding of online gambling also punish those sites that have allowed U.S. players in the past. The alliance of PokerStars and Wynn implies that many online sites and land-based casinos will be adopting fresh strategies to convert threats into opportunities by creating their own online poker rooms.

I guess we will have to wait and see how it all pans out….

Visit the Internets largest poker room by clicking PokerStars .

Sources

Reuters.com (2011)

MakePokerLegal.com (2011)

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