Bwin.party Seals the Deal for California Online Poker
Bwin.party has recently initiated a successful venture deal with the United Auburn Indian Community (“UAIC”). The UAIC currently owns and operates the Thunder Valley Casino Resorts located in Sacramento, California. The two have entered into formal agreements that will allow the offering of online poker services in California. The services however are offered on the basis of a met criteria, which involves the suitable intrastate legislation being enacted in the state of California.
Current online poker reforms are underway although there is heavy pressure on officials to get it right this time. Previously online poker was legal until a precedent which saw its banning on a day dubbed “Black Friday”. Many online poker services abruptly closed down which saw the freezing of multiple accounts and creation of many disgruntled former players.
Until recently, there seemed to be no reprisal of online poker until late December 2011, when the Department of Justice released a memorandum that shed some light on the issue of online poker with regards to the Wire Act 1961. The memo had declared that forms of online gambling extended to sports betting and gambling as the only illegal methods, offering a chance for online poker to be revived.
Since the release of this memorandum, there has still not been any change in the issue of online poker however several states are pushing to legalise state reform and reintroduce online poker state by state as opposed to a federal bill.
Recently, severely online poker companies are being bought out as a result of looming optimism for the online poker industry and possible reintroduction of online poker to the United States, which is known to generate a large amount of revenue and successfully hold a large number of players.
In a press release on the joint venture, Jim Ryan and Norbert Teufelberger, co-CEOs of bwin.party stated:
“California is the largest state in the US in terms of population and is known to have a significant number of poker players who like to play poker online. Combining our own significant assets and resources with those of UAIC will create a strong partnership that is well-placed to seize the opportunities that will arise if appropriate online poker legislation is enacted.”
The Tribal Chairman of UAIC also commented:
“We see the legalisation of internet poker and other internet gaming as being inevitable. Having met with representatives from a number of different online gaming companies, bwin.party was our first choice as partner. With its unrivalled expertise in online poker, proven technology and player loyalty, we are confident of being able to maximise the revenue opportunity from a regulated online poker market in California and to continue to enhance the long-term prosperity of our community.”
Source: MoneyExtra
