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With word of legalized online poker coming to California, the company behind the new site, Playtech, saw its shares on the London Stock Exchange rise sharply on Tuesday, nearly 7 percent in fact.
Playtech made the announcement that it would be joining forces with the California Online Poker Association (COPA) to bring online poker to California’s nearly 37 million people. Just how big a deal is this, you might be asking yourself. California, if it were a stand-alone nation, would be the 8th biggest economy in the world. COPA members comprise 29 federally recognized California tribal governments and 31 state-licensed California card clubs.
While US federal legislation appears to be on the fast track now, California could still make online poker legal first.
Playtech is one of the most prominent poker software companies in the sector.
Robert Martin, Chairman of the Morongo Band of Mission Indians and a member of COPA's board of managers, said, "It has been estimated that Californians wager more than $13 billion annually on illegal, offshore internet poker websites. Our mission is to provide California players with a safe and secure option to play poker legally on the Internet. On behalf of all of COPA's trusted gaming partners, both tribes and card rooms alike, we are very pleased to enter these agreements with Sciplay and Playtech to deliver a full service solution."
- Payton O’Brien, Gambling911.com Senior Editor
