HR 2267 Not Good For PokerStars and Full Tilt
Now that the euphoria of the passage of HR 2267 in the House Committee has died down, experts are examining the fine print and opining what this means for the online poker industry. Joe Brennan Junior of iMEGA pointed out one of the most significant amendments. He said, “No one who took a bet or wager on or after the enactment of the Unlawful Internet Gaming Enforcement Act in 2006, processed payments, or received ‘assistance’ can be licensed.” This puts two of the largest online poker rooms, Full Tilt Poker and PokerStars, in a tight spot. As of now, online poker in the United Stated without Poker Stars and Full Tilt Poker is inconceivable. Most of the leading poker professionals are brand ambassadors to one or the other. Therefore the industry experts have come up with various suggestions as to how things can work out.
The most common expert opinion is that PokerStars and Full Tilt Poker will be bought over by a big US company. Harrah’s, MGM and Facebook are some of the names that have been thrown about. However, one expert pointed out that this would be too big a risk for the buyer, because Mr. Bachus has plugged this loophole in his amendment. Entities that purchase tainted entities, purchase customer lists of tainted entities and purchase operations of tainted entities also cannot be given licenses. Another suggestion has been that PokerStars and Full Tilt Poker can purchase a European company that is eligible for a license and ask its players to join up there.
In all this one cannot forget that HR 2267 would never have passed but for the untiring efforts of the Poker Players Alliance. And it is well known that PokerStars and Full Tilt Poker are the biggest supporters of the Poker Players Alliance. HR 2267 has yet a long way to go before it is made law and some way out is sure to be found.
Meanwhile PokerStars is putting up a brave front. First of all PokerStars has said that it completely supports HR 2267 and will do whatever it can to try and get the bill through the House and the Senate in this Congressional term itself. Then a statement from PokerStars said, “As reflected in legal opinions provided to PokerStars, its activities in the US are and at all times have been lawful. Therefore the amendment will not adversely affect the availability of a license for a respected operator such as PokerStars.”
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