Steve Wynn and PokerStars Announce Strategic Partnership to Promote Online Gaming

by Lou on April 7, 2011

When PokerStars and Wynn Resorts formed a strategic alliance that joined a major brick and mortar casino with the world’s largest online poker site, they began working to seek passage of federal legislation aimed at regulating Internet gambling.

Until very recently Steve Wynn (pictured left) viewed online gaming as an enemy, not an ally, but their new venture, PokerStarsWynn.com, is a new alliance with a new strategy.  Entrepreneur Steve Wynn is hoping his new venture can run can its own online poker room.

In a press release discussing their “strategic relationship,” Steve Wynn said, “the companies will first work to secure the passage of federal legislation that will finally and conclusively define illegal internet gambling, provide law enforcement with the tools necessary to stop illegal internet gambling, protect consumers by establishing a robust regulatory environment for the safe operation of online poker by experienced operators, and establish a regime for the assessment and collection of taxes.”

“If you can’t beat ‘em, join ‘em,” appears to be the strategy de jour.  “We are convinced that the lack of regulation of Internet gaming within the US must change,” said Wynn. “We must recognize that this activity is occurring and that law enforcement does not have the tools to stop it … It is time that the thousands of jobs created by this business and the potentially significant tax dollars come home to the US … 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.”

While this was going on, Nevada regulators gave the go-ahead to a deal involving Caesars Entertainment and 888 Holdings PLC, a Gibraltar-based company offering online poker overseas. Never before had the Nevada Gaming Commission permitted a brick-and-mortar casino operator to partner up with a foreign owned and operated firm involved in online gaming.

{ 1 comment }

Michael H. April 7, 2011 at 1:50 am

Lou, whenever I need an update on the online gaming situation I come to your blog. Thanks for keeping me in the loop. This sounds like very exciting news! With enough money and big hitters pushing for federal legislation of online gaming (and poker in particular), we may actually see our second renaissance of our beloved game sometime soon!

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