Wynn and PokerStars Join Forces to Fight For Online Poker's Future

Wynn Resorts' Wynn and Encore hotels in Las Vegas.

Wynn Resorts has entered into a strategic relationship with PokerStars that will see the two push for online poker legalization and partner on a new poker site.

A press release from Wynn Resorts released Friday says the companies will work together to help get federal legislation passed to legalize, regulate and tax online poker in the US before jointly operating a regulated, US online poker site under the name PokerStarsWynn.com.

"After much study, we are convinced that the lack of regulation of internet gaming within the US must change," reads a statement from the Wynn Resorts' Billionaire CEO Steve Wynn.

"We must recognize that this activity is occurring and that law enforcement does not have the tools to stop it. As a company that has safely conducted gaming in the US for more than 40 years, we believe that the same can be done for poker on the internet.

"Additionally, it is time that the thousands of jobs created by this business and the potentially significant tax dollars come home to the US."

Making a rare public statement on behalf of PokerStars, Chairman and Founder Mark Scheinberg said the World's largest poker site is looking forward to the partnership.

"We have long supported the enactment of local regulatory regimes that protect consumers and provide valuable tax revenues and jobs," he said.

"PokerStars is closely regulated in many European countries and it has been endorsing the adoption of the same approach in the United States for years, with this alliance representing a critical step in that direction.

"We are excited about the opportunities that partnering with Wynn, a pioneering leader and innovator in gaming, will present for PokerStars in the United States."

This announcement comes on the same day representatives from PokerStars are in Carson City, Nevada attempting to convince lawmakers to adopt a bill that would legalize online poker in that State.

It also comes a day after Nevada gambling regulators approved a partnership between Caesars Entertainment and 888 Holdings allowing those two entities to run a Caesars branded online gaming site in the UK.

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