Amaya Inc. announced that the New Jersey Division of Gaming Enforcement has authorized it to operate the PokerStars and Full Tilt brands in New Jersey, enabling the entry of the world’s largest poker business into the United States.
The approval follows an unprecedented review by the DGE of Amaya’s acquisition of PokerStars and Full Tilt in August 2014.
Amaya is currently in an agreement with Resorts Casino Hotel in Atlantic City to provide online poker and casino offerings in New Jersey through the PokerStars and Full Tilt brands. Amaya has also previously received approvals from the DGE to provide B2B online and land-based gaming solutions in New Jersey.
“New Jersey gaming regulators have a long history of stringent regulatory oversight and enforcement of gaming operations. 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,” the company said in a press release.
David Baazov, chairman and CEO of Amaya, said the announcement follows the divestiture of Amaya’s “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.”