Who is competing with Pokerstars in the world market now? The answer is nobody. There is no reason to believe anyone will be able to compete with Pokerstars in an intrastate market either.

It's not a deal whose success or failure is dependent upon entering the US market. Getting in the US is certainly a plumb, but it's not the basis for the deal.

I strongly doubt he has a share in PS. I think it is all owned by Mark & Isai Scheinberg and whoever their additional finance guy was (I think I know but probably a bad idea to put out educated guesses)

John, you do also realize that, in the mid-80s, that the NGCB began to crack down on those organized crime groups that had ownership of casinos in Las Vegas, don't you? I don't think "Mickey The Shark" is going to be buying into either a Las Vegas casino or an online gaming group with a license there soon.

The language of the CA proposed bill is dubious but not out of line. While they didn't admit to the crimes, the settlement for violations of the UIGEA were a federal crime (let's face it, when you settle, you're just looking to limit your liabilities). PS also had two people (Isai Scheinberg and Paul Tate) who are still fugitives from the U. S. authorities.

Very well played the rational group imo.

Always have a mother ****ing exit strategy.

Pretty sure this was the plan along in the build up to BF.

This move by Amaya to buy PS/FTP (and, if you read the language, the European Poker Tour, other smaller tours, their television and online programming...I'd go on, but it would get long) does have a significant impact on the entirety of the gaming world. Because they are leveraged out heavy with the purchase, will Amaya start cutting off pieces to turn a profit? Do we see a cut in the international operations of PS/FTP to try to reduce some of the costs?

In the U. S., this could be something. In NJ, Amaya now has the option of going with the Trump properties (they signed on with Ultimate Gaming to provide casino gaming for their sites in April), holding up the PS deal with Resorts International or maintaining their deal with the Golden Nugget to provide gaming in the state. There's several options there.

In NV, the Golden Nugget deal is still in play, but do they enter a market that is oversaturated with three sites already? They may not believe that it is worth heading there and instead investing in NJ or in....

California is the key question. The "bad actor" language prevents "intellectual property" from being used. This would encompass the PS/FTP software, mailing and player lists, management, et. al. While it isn't a done deal in CA yet (2015 at the earliest, gang), the Amaya deal might make them more palatable if there is some compromise reached.

I should imagine that PS are profitable already, so paying off debt may not have an impact on players.

Also, this was always the plan by the owners - PS was preparing to float prior to the UIGEA.

True, although that cuts both ways - I would expect Stars' business in Canada makes more money than supplying software for Quebec.

That said, you're right in that there is a LOT more to lose when it comes to the US market, so even a small chance of trouble over online poker's slightly murky status here could be enough to scare them off.

It would sure suck if one day (not any time soon LDO) Stars was in the US and able to combine pools with ROW but had to shut Canada out.

It seems like Scheinberg owning Stars was the fact that was barring the site from entering the US market again. So now that he's gone then surely there is no reason for this to continue.

is our money safe?

i think there will be some serious cuts in live events around the world
and i think that the vip scheme will get worse

does anyone have infos about any of those please?

There is a reasonable amount of equity in the mix and Stars is basically a cash printing machine so I don't see any issue there.

An interesting aspect of all this is we can see how much money stars (/tilt) has been making from us. Last year they made EBITDA (basically profit) of US$420m on revenues of $1,100m. 38c of every $ in rake is pure profit.

The right time to sell I suppose. It will be the most P/S can get with the downward spiral of online poker.

I don't see why you would believe this deal means your money is any less safe or that they would cut events or reduce the VIP scheme. All that's really happened is that the Scheinbergs have sold the company to someone else. The new owners have the same interests as the old ones: make as much money as possible. That involves giving the players a reasonably competitive deal (although that doesn't fully apply given Stars' market dominance).

From IOM Today:

Amaya are a bad company imo and this is a terrible move for all ROW players.

As has been pointed out Isai Scheniberg basically made stars what it is soley because he treats players as the number 1 priority. Amaya basically treat players as targets with money.

Hopefully P/S doesn't become like party poker

Bye bye VIP program.

1 word: Ongame

http://forumserver.twoplustwo.com/29...-time-1382848/

lot of mixed feelings. One thing is for sure. This does not mean immediate re entry of Stars in the US. Anyone having such childlike hopes can get back to reality.

I hope this fastens the process of their rentry to a faster gear. Once you violate the law of land, you cant disrespect the law makers. The land based casinos that were held by individuals in the 70s 80s also met the same fate. It's turn of PS.

The company is gone but the brand will survive.

I hopeso. And I hope the staff and management team that helped sustain this brand do not get screwed.

Anyone know if Amaya insiders will have access to God-mode ?

We have to wait for someone from pokerstars to give us a bigger view.

I don't know enough about the US situation to fully understand the ramifications of this. Being in the UK I have concerns as to what impact (if any) this has on players outside the US on Stars.

Hmm yes and no, with software companies there is always huge amounts of amorisation and depreciation that needs to be charged.

EBITDA is actually a better indication of 'cash' earnings in any given year. As the other items are accounting charges and aren't actually cash movement.

That's completely wrong. Capex, intetest on debt and taxes are excluded from EBITDA and are actually cash movement.