Weekly Roundup March 25 2016
Amaya Gaming CEO Charged With Insider Trading
Amaya Gaming’s CEO David Baazov was charged with five counts related to insider trading this week by Quebec financial market regulators. Amaya Gaming is the parent company of PokerStars. The charges are related to the $4.9 billion acquisition of PokerStars in 2014. Baazov and Amaya Gaming deny any wrongdoing.
PokerStars Raising Rake
PokerStars announced this week that it would be raising its rake at many no limit tables. The change affects the rake cap affects low limit and higher tables. Spin and Go rake went up one percent at limits up to $30. Multi table tournaments with a hyper structure went up to five percent. PokerStars states that this still gives it the lowest rake cap at those limits and games in the industry.
PokerStars New Jersey Competes From First Day
In more PokerStars news, the New Jersey site officially opened on Monday. It immediately matched cash game players at Borgata and WSOP.com in terms of average numbers. This excludes the Spin & Go lottery tournaments, which have proven to be immensely popular among players in New Jersey. Spin & Gos are three-seat sit and gos, which fit perfectly with the small liquidity the intrastate market offers.
Online Poker Part of New York Senate Budget Bill
Online poker may become a reality in New York in 2016. The state senate attached online poker regulation to the next fiscal year’s budget. Tax and licensing money from online poker would help plug some of the state’s budget holes. It is highly unlikely online poker would launch in New York until all commercial casinos have opened. This would give all newcomers to the market an equal starting position. That time is at least two years away.
Winning Poker Network Reload Bonus
The Winning Poker Network is offering a reload bonus this Easter weekend. Players that make a deposit between now and Sunday night at 11:59pm ET will receive a 200% up to $500 bonus. The bonus code is BUNNY. The bonus releases in $5 increments for every 120 Award Points earned. Players have 30 days to clear the bonus.