SBR analyst Natalie Rydstrom gives an SBR iGaming news update for Friday, August 24th. In today's show, the recent issuing of more licenses by the Nevada Gaming Commission in connection with intrastate online poker is covered, as well as news regarding PokerStars acquisition of Full Tilt Poker.
The Nevada Gaming Commission granted three companies gaming licenses Thursday.
South Point Poker LLC and Monarch Interactive Inc. were granted interactive gaming operator licenses Thursday. The licenses allow each company to provide intrastate online poker. The games are expected to launch later this year. Global Cash Access Holdings Inc. was also licensed to provide online payment services.
Lawrence Vaughan, COO of South Point Poker: "We are pretty excited to enter the online gaming world. This is an incredible step forward. It's going to redefine gaming and what the state can do. We built this home-grown in Nevada from scratch, to the regulations."
SBR reported that companies IGT, Bally Technologies and Shuffle Master
were licensed by the Nevada Gaming Commission as interactive gaming
PokerStars recent acquisition of Full Tilt Poker
The wait is still on for former Full Tilt Poker players to receive payment. As per PokerStars settlement agreement with the US Department of Justice, all FTP players would be repaid. PokerStars was obligated to pay a whopping $547 million to the US Gov. over a three year period; Stars has already made its first payment. These funds will be used in part to reimburse former Full Tilt customers residing in the United States. Player repayment will be spearheaded by the US DOJ, causing some players a bit of anxiety as they must communicate directly with the government through a claims process to recover their money. Former international Full Tilt players meanwhile will be paid directly by PokerStars through a bank account containing $184 million.
Golden Nugget in Atlantic City suing Gemaco, lucky gamblers
The Golden Nugget Atlantic City Hotel and casino is suing card manufacturer Gemaco after a group of 14 lucky gamblers profited $1.5 million playing mini-baccarat. According to the lawsuit filed in New Jersey Superior Court, the eight decks of cards did not come preshuffled from the manufacturer, allowing the players to take advantage of obvious patterns in the game. The Golden Nugget is hoping to recover the reported $558,900 it paid out to several of the players, and near $1 million in chips. Three of the gamblers, who were also named in the Nugget’s lawsuit, filed a countersuit against the casino company.
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