The big news on the morning of June 12th was that the owner of PokerStars and Full Tilt Poker, Rational Group Ltd., had been bought out by Amaya Gaming Group, Inc., along with other companies in the Oldford Group umbrella.
Adding these two poker juggernauts to other gambling properties, Amaya Gaming Group has just become the biggest online gaming company by far, gaining an approximately 85 million new players in this deal.
Could this be the Answer for American Players?
Due to events leading up to and following the day known as Black Friday to online poker players, it has seemed like poker in the United States may not return. However, with new ownership that has a stellar track record of being transparent and following proper procedures to meet regulations, there may just be a bigger hope now than before.
The Poker Players Alliance (PPA) fights for the rights of poker players and the availability of online poker in the U.S. Executive director of the PPA, John Pappas was optimistic about the big deal, saying, “Amaya’s acquisition should remove any perceived impediment for this popular brand to once again be available to players in regulated U.S. jurisdictions. This is a positive development for poker enthusiasts and the potential return of the PokerStars brand will grow our game.”
Now despite that optimism, the CEO of Amaya Gaming has claimed that this acquisition was not dependent on obtaining a license in the U.S., although that may be a possibility in the future. For now, the company is set to license their industry-famous software to New Jersey online poker platforms.
Amaya and the Rest of the World
Amaya Gaming has extensive experience and presence in many major global markets across the world. The CEO has already stated that the primary goal of this acquisition is to grow the already over $1.1 billion in revenue these two massive poker sites generate on an annual basis.
Plans to accomplish this include introducing casino games and sports betting. With a new customer base of over 85 million customers, these new introductions could have a profound effect. While that $1.1 billion in revenue may seem impressive, making up about a quarter of the online poker industry, the casino games industry comes in at a hefty $25 billion a year. Gaining a substantial portion of that market could take the two online gambling sites to previously unknown heights.
Rational Group was always based in the Isle of Man, not exactly the most regulated “country”. This contributed heavily to the stigma and wariness of Full Tilt Poker and PokerStars.
Amaya Gaming on the other hand is based in Montreal, Canada. This instantly adds a significant amount of trust and credibility to these tarnished giants, that suggests a more legitimate organization. Most of Amaya’s business is not online, but physically based in casino and lottery solutions. This is the first major only foray for Amaya, and it promises to be an interesting one.
The deal should be completed by September, so stay tuned for further developments and details.