It was announced on Wednesday that Amaya Inc. has been given the authority to operate online in New Jersey by the Division of Gaming Enforcement resulting in the upcoming launch of PokerStars and Full Tilt in partnership with local casino Resorts Casino Hotel.
Amaya CEO David Baazov said:
"The DGE's review of PokerStars was extremely thorough and exhaustive, including a detailed review of Amaya's operations and technology, sworn interviews with more than 70 individuals and visits to approximately a half dozen international jurisdictions.”
"This stringent review found PokerStars to be under strong, ethical and trusted ownership and management with Amaya, and worthy of participating in New Jersey's regulated online gaming market."
"Since the acquisition [of Pokerstars' parent The Rational Group], we have consistently delivered on our stated strategy.”
"Today's announcement follows the divesture of our B2B businesses for total gross proceeds of approximately US$524.8 million; the launch of casino games on PokerStars, which we estimate has one of the largest active user bases of any online casino; the refinancing of our long term debt and the reduction of our annual interest expense by approximately US$62 million. We are excited about our new product pipeline and enthusiastic that we will experience growth in existing and emerging markets in the future."
The only question left is how soon the sites will begin operating in the New Jersey market.