Posts Tagged ‘Amaya Gaming’

Daniel Negreanu fully agrees with PokerStars’ Changes

Monday, November 3rd, 2014

PokerStars has started to look like a completely different site over the past few months. They’ve dropped famous pros, increased rake for certain games, introduced Spin & Gos, added currency exchange rates and have reduced upper VIP rewards.

Obviously you don’t make all of these changes without ruffling a few feathers, which is exactly what’s happened in PokerStars’ case. Many regulars are outraged because some of the moves directly affect their bottom line. And they are pointing the finger directly at Amaya Gaming, which recently purchased Stars for $4.9 million.

But the company’s most-prominent sponsored player, Daniel Negreanu, thinks a little differently on the matter. Writing in his blog at FullContactPoker, Negreanu explained that many of PokerStars’ recent moves are meant to bring new players to the game, rather than gouge everybody for money. He also explains that most of these changes were coming before Amaya bought the site:

I wanted to clear up a few misconceptions about some of the recent changes at PokerStars and throw in my two cents. First of all, I think it’s really important to note that most of the recent changes were going to happen well before the new ownership group took over. The online poker landscape has changed over the last few years and many of these changes were inevitable in a competitive market for the company to continue to be the world leader. While I get it, nobody gets excited over rake increases, I think it’s really important to note that PokerStars remains the cheapest place to play online poker. The rake increases are still smaller than what the competition offer, and that’s before you account for the generous VIP programs.

It’s not hard to tell who’s side Negreanu is on after reading this post. So his opinion definitely won’t win him any favor with some of the die-hard regulars at PokerStars. But he and Stars both maintain that the changes are necessary to stay competitive with other poker sites and draw new players.

There’s probably definitely some truth to this, however, most of the players’ complaints about increased rake and currency fees also hold validity – especially when Stars is far and away the market leader.

Will Amaya Gaming finally get PokerStars in the US?

Friday, June 13th, 2014

The big poker news today – and it’s colossal – is that Amaya Gaming has made a deal with the Rational Group to buy PokerStars, Full Tilt and live tournament tour assets for $4.9 billion. For years people have speculated about the worth of PokerStars and now they know.

One of the key points of this deal is that Isai Scheinberg and his son, Mark, relinquish their shares in the company and ride off into the sunset with billions. The reason why this part of the deal is so big is because it means that PokerStars might finally be able to enter the elusive United States market.

The legal US online poker market is fully underway, with Delaware, New Jersey and Nevada all featuring regulated gaming sites. And so far, PokerStars’ attempts to enter these states have went like this:

Delaware – Stars was denied because Delaware is mainly looking for companies that offer both casino and poker games.

New Jersey – Review of PokerStars’ application has been suspended for two years in the Garden State.

Nevada – Nevada evoked the “bad actor” clause to prevent Stars from entering their market for at least 10 years.

The key point behind PokerStars’ bad actor status in Nevada is that they violated the Unlawful Internet Gambling Enforcement Act (UIGEA). Moreover, the Scheinberg’s retained ownership of the Rational Group after they’d violated the UIGEA.

But now we have Amaya running the show at PokerStars. The Canadian supplier of gambling equipment has no ties to Black Friday, meaning it’s hard to use the bad actor excuse to keep them out.

Of course, despite what state gaming regulatory bodies may say, this is all about anti-competitiveness and helping in-state casinos get off to a strong start. So no matter how illogical it seems, certain US states may still try to call upon PokerStars’ past to keep them out, even though an entirely different company is now in charge.

As for Amaya, it’s likely that they were willing to spend $4.9 billion on Rational’s assets because they know there’s even more potential for Stars IF they can get into the US.

Former Absolute Poker COO Paul Leggett back in Online Poker

Monday, May 6th, 2013

A sizable portion of the poker community have collectively raised their eyebrows over a big hire. Former Absolute Poker COO Paul Leggett is now going to be taking the same position with Canada’s Amaya Gaming. As both Pokerfuse and eGaming reported, he’ll replace former Amaya COO Paul Bertilsson, who will stay on with the company in another role.

Leggett is an interesting, if not controversial hire because he was Absolute Poker’s head man during Black Friday. This day started Absolute’s demise and saw them eventually go offline with millions of dollars in player deposits. So it’s quite strange that Amaya Gaming would want to bring on such a murky figure.

As for his role with Amaya, he’ll oversee the company’s newest purchase, the Ongame Network. Ongame is one of the oldest networks in the poker industry, and they’ve lost some major traffic in recent years. One of their largest rooms, bwin, joined Party Poker, which fueled Ongame’s drop from the fifth most heavily-trafficked network to the 18th most popular.

Leggett’s job will be to help Ongame regain some of their lost traffic and move back up the ladder. However, it’ll be interesting to see if his new role has any effect on Ongame’s new position in the regulated Nevada internet poker market. Last year Ongame signed a deal to provide software for Bally Technologies, which obtained an online poker license from Nevada.

Perhaps just as important as the licensing aspect is what players will think of Leggett’s hiring. The Absolute Poker name doesn’t exactly carry a good reputation because of all the player deposits they never refunded. So with Leggett now heading Ongame, players who were burned by Absolute might think twice about depositing with their Nevada-based poker room.