PokerStars was Offered Purchase of World Series of Poker, Rio Hotel

Reports surfaced Wednesday that Caesar’s had offered to sell their coveted World Series of Poker (WSOP) and Rio Hotel properties to PokerStars last month but the later refused.

This news comes on the heels of the American Gaming Association, based out of Nevada, submitting a letter to New Jersey officials urging them not to allow a proposed sale of Atlantic City’s Atlantic Club Hotel and Casino to PokerStars.

That letter, sent to the Casino Control Commission, questioned Stars integrity following events that transpired on April 15, 2011, whereby several of the company’s bank accounts had been seized by US Feds in connection to money laundering scheme.  Two officials from the company were indicted and PokerStars later settled with the US Government, agreeing to forfeit $547 million.
 “AGA today opposes the PokerStars Petition because the integrity of the gaming industry would be gravely compromised,” the AGA brief said. 
“Any action allowing PokerStars to be licensed would send a damaging message to the gaming industry, and to the world beyond gaming, that companies that engage in chronic law breaking are welcome in the licensed gaming business.”

Caesars reportedly suggested to PokerStars that acquiring a Las Vegas casino would help the company obtain an online poker license in Nevada, PokerStars’ Head of Corporate Communications Eric Hollreiser told Forbes.

“Caesars Entertainment approached PokerStars and offered to sell us certain assets, such as the Rio Casino in Las Vegas. Caesars suggested that this acquisition would give us a better relationship with Caesars and would help PokerStars gain a license in Nevada,” said Hollreiser. “PokerStars declined the offer because we had no plans to acquire another casino in the near term.”

Both Nevada and New Jersey legalized online poker and other forms of i-Gaming last month. 

- Ace King, Gambling911.com