Rumor or Fact – Full Tilt Poker to Partner with Land Based Casino?
High profile online gaming sites and brick-and-mortar casinos are falling over themselves in a bid to establish strategic alliances. Recently, PokerStars and Wynn Resorts signed a strategic deal with the purpose of pressurizing the US federal government to legalize and regulate the online gaming industry. Caesars Entertainment, formerly known as Harrah’s Entertainment, joined hands with 888 Holdings Plc. of London shortly before PokerStars announced its alliance with Wynn Resorts. Caesars Entertainment, the owner and operator of the prestigious annual live poker event World Series of Poker (WSOP), wants to expand into the UK market.
The air is now thick with rumors that Full Tilt Poker will soon follow in the footsteps of its archrival PokerStars and form a strategic alliance with Station Casinos. A Wicked Chops article published last week claims that reliable sources within the gaming industry have confirmed that Full Tilt Poker is discussing the pros and cons of forming an alliance with Station Casinos.
Full Tilt Poker has recently announced a high-stakes and high buy-in series of poker tournaments called Onyx Cup Series, which might help cement its alliance with Stations Casinos. The series is scheduled to be held at venues in America, Europe, and Asia. Although the inaugural series will be held in Las Vegas on May 11 – 12, nobody knows the exact venue. Considering the fact that Full Tilt is mulling over joining hands with Stations Casino, the first Onyx Cup tournament could be held at any of the 18 gambling establishments Station Casinos owns in Las Vegas. Three Onyx Cup tournaments will be held in Las Vegas—the tournament of May 11 – 12, the tournament of July 7 – 8, and the Grand Finale with a $250k buy-in in December.
The US government might take anywhere between a few months to several years to legalize and regulate its online gaming industry and enable these online poker rooms and brick-and-mortar casinos to cash in. In the meantime, online gaming businesses such as the Cereus Network, PokerStars, and Full Tilt Poker can sign strategic agreements with land-based gambling businesses and get ready to pounce on the lucrative opportunities as soon as they come.
The struggle to legalize, regulate, and tax the online gaming industry is still on in the US. The HR 1174, a bill introduced by Barney Frank of the Congress, aims to build a framework for a legalized and regulated online gambling industry in the US. It now has to pass through the Financial Services Committee, chaired by Spencer Bachus, who is widely known for his hostility toward online gaming.
John Pappas, the executive director of the Poker Players’ Alliance, said that Campbell has convinced the chairman to conduct a hearing late this summer. Admitting that he does not place too much hope on this recently drafted bill, he said that the right approach could be the poker-only approach, which a separate committee would definitely vote on.
In the meantime, it remains to be seen if Full Tilt Poker and Station Casinos will really get into an alliance.
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