PokerStars May Leave Australia

Internet poker giant PokerStars could possibly leave the Australian gambling market due to the country's tightening of gambling laws, as the company claims it's watching the country closely and may pull out by July.

During an investors update call, the group's parent company Amaya said that it's keeping tabs on the developments in Oz, and that if things continue to go south that the company could pull out of the country by July.

Speaking to shareholders Amaya CFO Daniel Sebag said, "If the current proposed legislation is enacted in Australia, we intend to block players in that market. We currently estimate that the proposed legislation could be considered in late May, and we would block players in that market approximately 30 days thereafter."

Earlier this year the Australian parliament approved to change online gambling laws, which would stop punters from playing at offshore betting sites, causing many reputable betting groups to leave the country and resulting in many shady sites to come into the country.

We are keeping close tabs on this story and will update readers as we learn more.

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lvblck
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18 May 2017 - 1:40pm
#1

Just a few days ago we were reading about Guts leaving Australia, now Pokerstars. It is a quite sad thing for Australian players that good and truatworthy casinos are leaving their market, leaving more space for not so great casinos.

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usbarbadosslim93
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19 May 2017 - 12:25pm
#2

Yep, this is exactly what happens when you clamp down on something that's going to happen regardless. The bad seeds move in and make things even worse.

In my perfect world people would be able to gamble in each market in a nice and regulated environment. Same thing goes for other vice issues like prostitution or marijuana... Both are outlawed where I live (save for medical marijuana), and people are doing it regardless. You'd think politicians would be smart enough to realize that and would work for things to get better.

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bgsharpe
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20 May 2017 - 10:34am
#3

Great point Slim, completely agreed with all that ... just one remark... politicians would never be smart enough...