Week In Review

September 12th, 2011 by Kyle Silverberg

week-in-review

PokerStars Bank Account Freed

The US Department of Justice has released one of the bank accounts that was seized on Black Friday. PokerStars will obviously take this as good news as they are able to recover all assets in the Luxembourg Bank Account in the name of Sphene International. One requirement that was made by the government was that the account must maintain a minimum balance of $5.5 million. It is no surprise that PokerStars is receiving decent treatment from the government because they were so cooperative straight from the beginning.

Indiana Gaming Commission Cracking Down

In the wake of Black Friday a lot of players were forced to give up the game they love. Not being able to play online games of poker, there was no where to turn for most players. What then developed were house games where friends and other local poker enthusiasts would get together for small cash games. The Indiana Gaming Commission made it clear that these house games were perfectly legal, and they actually supported them. Their issue comes when these small cash games turn into large poker operations.

The cross-over from legal to illegal is when the host of the game begins collecting rake. As long as no rake is collected, these poker games are still ok. Some operations become larger than most people anticipate but the IGC has seized multiple electronic casino games and has made several arrests relating to this subject.

Looking Forward

In the coming days and weeks a big story we will be waiting to hear about is how Merge is going to fare in the US. It is rumored that the network may be facing heat similar to the type of trouble that faced PokerStars, Full Tilt, UB, and Absolute Poker. At this point this story is mostly rumors, but as facts come in we will pass the information along.

Posted in Poker Industry News, PokerStars

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