Published on December 12, 2013 by April Gardner
PokerStars the corporate will have reached an agreement to circumvent further action by the united states Department of Justice, however the company's founder, Isai Scheinberg, continues to be wrapped up in an indictment of his own, and that has turned out to be big trouble for PokerStars.
On Thursday, PokerStars was denied their request to procure an internet gambling license in New Jersey. Regulators cited the continuing legal battles of Scheinberg once they announced that they wouldn't be extending the license to PokerStars.
"The division's determination is predicated totally on the unresolved federal indictment against Isai Scheinberg for the alleged violation of federal gambling statutes, namely, the Illegal Gambling Business Act and the Unlawful Internet Gambling Enforcement Act, and the involvement of certain PokerStars executives with Internet gambling operations within the U.s.a. following the enactment of UIGEA," said regulators, in a statement.
The biggest blow from this week's decision may come to Resorts Casino Hotel, the prospective partner of PokerStars. Resorts have been issued a license, but now has no company to function a web-based casino. The company, for the moment, is standing by PokerStars.
"WE'RE disappointed that PokerStars was not issued a license," said Resorts President Mark Giannantonio. "We are hopeful that they are able to resolve their issues with the DGE in an expeditious fashion."
PokerStars has not yet committed to creating changes to their structure as a way to gain the brand new Jersey Internet gambling license. They did, however, offer some insight into their future plans.
"We are disappointed that the brand new Jersey Division of Gaming Emforcement has suspended the review of our application at this time," said PokerStars Spokesman Eric Hollreiser. "We note that the DGE will resume the review of our application if our circumstances change. We will be able to remain in open dialogue with the DGE and can update them on changes in our situation as they occur."
Regulators suspended the applying for a period of 2 years.
Read More... [Source: Online Casino News]
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