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Casino mogul ends PokerStars association following 'Black Friday'

by isleofman.com 17th April 2011

A billionaire Las Vegas casino mogul has ended his short association with PokerStars, following the indictment of Isai Scheinberg and Paul Tate by US federal authorities.

The pair have been charged with money laundering and bank fraud offences.

Nine other men connected to the online gaming industry were named in the indictment on what some are beginning to call 'Black Friday'.

Steve Wynn of Wynn Resorts is widely credited with spearheading the resurgence and expansion of the Las Vegas Strip in the 1990s, refurbishing or building landmark casinos such as the Golden Nugget and Bellagio.

A statement released by Wynn's firm says, "“Wynn Resorts Limited announced today that it terminated its alliance with PokerStars, the online poker company.

"The decision was reached as a result of the indictment unsealed by the US Attorney for the Southern District of New York."

An online poker bill was only introduced to the Nevada legislature last month, with firms in the industry hoping it was the first step to online gaming becoming legal in the US.

Meanwhile it's reported UK poker players have been trying to withdraw their cash from their PokerStars and Dublin-based Full Tilt Poker's accounts, although a number have said they haven't been able to do so.

Full Tilt's CEO Raymond Bitar and his business partner Nelson Burtnick have also been indicted.

Bitar has released a statement saying he's 'surprised and disappointed' by the charges, adding he's looking forward his and Burtnick's exoneration.

Posted by isleofman.com
Sunday 17th, April 2011 07:26pm.

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