Wynn Resorts Severs Ties With PokerStars

Wynn Resorts has broken its ties with PokerStars following the indictment of the online poker room's founder over accusations of illegal gambling and money laundering, less than a month after the two joined forces to lobby for the legalization of internet gambling.

Unsealed Indictment Sealed Decision

Wynn Resorts said in a press release that its decision to terminate the brief partnership was "reached as a result of the indictment unsealed by the US Attorney for the Southern District of New York."

The founders of PokerStars and two other online poker companies were charged as part of an indictment by federal prosecutors, who accuse the firms of illegal gambling and other breaches under the 2006 UIGEA, which effectively outlawed internet gambling in the United States.

Strategic Alliance Over

It is amazing to think that less than a month ago Wynn Resorts Ltd and PokerStars announced that they were partnering to push for the legalization of online gambling in the USA, and to pave the way for the joint operation of an Internet Poker network in the country.

Their alliance came following a deal between Caesars Palace casino and 888 Holdings in Gibraltar to push for online gaming reform in the US state of New Jersey. Now, with the events of what has come to be known as Black Friday, all of the internet gaming community's efforts look to be in danger.