PokerStars NJ Could Be Winning Lottery Ticket for Resorts

October 5th, 2015 | by Brian Corlisse

Resorts Casino thrilled about PokerStars NJ deal.

Resorts Atlantic City on a high after PokerStars is granted a conditional iGaming license in New Jersey. (Image: philly.com)

Resorts Atlantic City is poised to enter the next phase of its expansion into the online poker world and its “thrilled” to have PokerStars as its partner according to recent statements by the casino operator.

Despite being the third choice for PokerStars in the US, Resorts is now looking to capitalize on the recent news that its online poker partner and its parent company, Amaya, will soon be able to go live in New Jersey.

Resorts on the Cusp of Something Potentially Huge

Although PokerStars current iGaming license is conditional and subject to a software testing period, the likelihood is that the platform will go live within the coming months and that could make Resorts a major player in the iGaming market.

At present it currently offers casino gaming in New Jersey via ResortsCasino.com and a partnership with Sportech; however, the infrastructure and branding PokerStars will bring to the party is way beyond anything it currently possesses.

However, had it not been for a series of failed dealings with Steve Wynn and later the Atlantic Club Casino, Resorts would not have been given a chance to become a marquee site within the US.

While it may not yet prove to be the winning lottery ticket that many believe it will be, the deal certainly has the potential to bolster Resorts in new ways.

“We are confident that the partnership with PokerStars will boost our online gaming activities and help us emerge as the leader in New Jersey’s poker market,” said Resorts’ CEO and president of Resorts Casino Hotel, Michael Giannantonio.

Resorts Heavily Invested in iGaming

PokerStars and Resorts first struck a deal back in 2013 after the former’s attempt to purchase the Atlantic Club Casino fell through. After finalizing the deal, Resorts pushed ahead with its efforts in the online poker world by creating a dedicated iGaming lounge.

The first of its kind in the world, the Resorts iGaming Lounge is dedicated to online poker and casino gaming with introductory tools, interactive experiences and deals for everyone that visits.

When the room launched in 2014 it was set-up for ResortsCasino.com, however, with PokerStars now poised to enter the state it won’t be long before its software and branding is added to the lounge.

While it’s clear that Resorts will be one of the biggest winners from the recent decision by the New Jersey Department of Gaming Enforcement, Amaya is also enjoying a financial upswing.

Riding the wave of publicity generated by PokerStars’ pending return to the US, Amaya’s shares jumped up by 17 percent at the end of last week and continue to trade high.

This boost is something Amaya had been counting on when it paid a record $4.9 billion for PokerStars and Full Tilt back in 2014; however, it now needs to ensure that it delivers the kind of results its shareholders expect or risk a major share price slump.