New Jersey Online Gambling Brief: Regulators “Encouraged” by PokerStars Sale
The casinos and online gaming providers currently involved in the New Jersey’s online gambling industry could be gaining some company in the not so distant future thanks to the sale of PokerStars to Amaya Gaming.
The move has already rekindled talks of a license in New Jersey – which would make PokerStars, Amaya, and Resorts Casino very happy. We’ll let you know what the New Jersey Division of Gaming Enforcement thinks about the sale.
That is certainly the big story of the week, but in this week’s New Jersey Online Gambling Brief we’ll also fill you in on the latest offer from 888 Poker in New Jersey where players could win some serious free money.
We’ll also let you know who Caesars just sold the dormant Atlantic Club to, what the latest revenue numbers could mean for New Jersey online poker, and a whole lot more.
New Jersey DGE “Encouraged” by PokerStars Sale
The New Jersey DGE called the sale of PokerStars to Amaya Gaming “encouraging” in a statement issued to PokerFuse.com following the announcement of the $4.9 billion deal. While people were hoping for a PokerStars return by the end of the year, it turns out PokerStars may go live in New Jersey sooner than expected.
The DGE may be encouraged, but even more encouraging to online poker players in the state is the news from this week that the DGE is already in talks with Amaya regarding PokerStars suspended license application.
According to the AP, NJ DGE Director David Rebuck stated, “We’ve had discussions with Amaya to reactivate the application, and we plan to begin discussions with them tomorrow.” Rebuck added, “We’ll look at whatever they bring over.”
Keep an eye on this space as this story continues to develop.
Two Straight Months of Decline for NJ
With revenue dropping for the second straight month, many people feel the New Jersey market has already peaked and is now simply going to fade off into the sunset so to speak; just another well intended effort to raise tax revenue that turned out to be a bust.
But not everyone shares this feeling, and there are still plenty of ways the market could experience a resurgence…
- The addition of PokerStars would not only bring the best product in the industry to New Jersey but it would recreate the initial buzz that surrounded New Jersey’s iGaming industry.
- The potential for an interstate compact with Nevada and Delaware is still a real possibility.
- Continued improvements in payment processing, relaxed sign-up processes, and the continued crackdown on unlicensed sites will also help move the market forward.
888 Offering Some Great Freerolls
888 Poker is making a serious push in New Jersey. First with the launch of their VIP Rewards Program, followed by a very interesting promotion called “Double Points Summer” which will run through the end of July, and now the announcement of daily $5,000 freerolls at the site.
All new players at the site (no deposit is required) will receive not one but two tickets to these freerolls, and you can earn even more tickets by participating in just 30 poker hands of poker at cash-game tables or playing in five tournaments at the site. Every day you meet one of these requirements you’ll be rewarded with two more freeroll tickets.
You might want to get started now though, as the promotion and the chance to use those tickets will end on June 24, 2014.
Atlantic Club Sold for $13.5 Million
Caesars and Tropicana purchased the bankrupt Atlantic Club Casino back in December of last year, and once the sale was finalized the tandem pulled out any usable equipment and shuttered the doors.
For their $15 million Caesars received the hotel portion of the property as well as the property and land – Tropicana contributed $8.5 million to the purchase and stripped the casino of its gaming tables and machines.
Now Caesars has sold the property to a group called TJM Properties which is expected to turn the Atlantic Club into condominiums.
For more on this story you can check out our column from earlier this week.
We Thought You Should Know…
Bad news for Ivey?
Phil Ivey’s chances of winning his edge-sorting lawsuits may have taken a hit this week as a court ruled in favor of the Golden Nugget AC in a somewhat related case.
The case stems from a card manufacturer sending unshuffled decks to the property (decks of this kind are supposed to arrive shuffled) which wasn’t noticed by the casino but was by the players, who proceeded to lay a beating on the Golden Nugget to the tune of $1.5 million.
However, the court ruled the game was unfair and therefore the players will have to repay any winnings.
Essentially, this will be the same defense the Borgata takes in their lawsuit against Phil Ivey for edge sorting, which required the use of slightly imperfect decks.
Here is more on the Golden Nugget case
And here is more on Phil Ivey’s edge sorting affair
Ultimate Poker’s Me vs. U is back with Episode 4
TDan O’Brien and Danielle Anderson are back for another head to head challenge, but if you’ve watched Me vs. U before you already know it’s not at a poker table… this time they’re at a shooting range.
http://www.youtube.com/watch?v=qy6-CDAnOaE
Each episode of Me VS. U features Dan and Danielle facing off in unique head-to-head challenges. Whether it be attempting to make a real New York style pizza, visiting a Las Vegas studio to perform aerial acrobatics or competitive firearm shooting, the winner of each competition will receive glory and rewards while the loser is forced to suffer embarrassing penalties.
