LAS VEGAS, March 25, 2011 /PRNewswire-FirstCall/ -- Wynn Resorts, Limited (NASDAQ: WYNN) announced today that it has entered into a strategic relationship with PokerStars, the world's largest online poker business.
The companies will first work to secure the passage of federal legislation that will finally and conclusively define illegal internet gambling, provide law enforcement with the tools necessary to stop illegal internet gambling, protect consumers by establishing a robust regulatory environment for the safe operation of online poker by experienced operators, and establish a regime for the assessment and collection of taxes.
Upon passage of this legislation and acquisition of the appropriate license, the parties will jointly operate a regulated, US online poker site under PokerStarsWynn.com.
"After much study, we are convinced that the lack of regulation of internet gaming within the US must change. We must recognize that this activity is occurring and that law enforcement does not have the tools to stop it. As a company that has safely conducted gaming in the US for more than 40 years, we believe that the same can be done for poker on the internet," commented Stephen A. Wynn, Chairman and Chief Executive Officer of Wynn. "Additionally, it is time that the thousands of jobs created by this business and the potentially significant tax dollars come home to the US," Mr. Wynn continued.
Mark Scheinberg, Chairman and Founder of PokerStars, commented, "We have long supported the enactment of local regulatory regimes that protect consumers and provide valuable tax revenues and jobs. PokerStars is closely regulated in many European countries and it has been endorsing the adoption of the same approach in the United States for years, with this alliance representing a critical step in that direction. We are excited about the opportunities that partnering with Wynn, a pioneering leader and innovator in gaming, will present for PokerStars in the United States These opportunities include the rapid ramp up in hiring of a large numbers of professionals in this growing global technology and services sector that will benefit from US talent to keep up with global demand."
About Wynn Resorts
Wynn Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 and NASDAQ-100 Indexes. Wynn Resorts owns and operates Wynn Las Vegas and Encore (http://www.wynnlasvegas.com), and Wynn Macau and Encore at Wynn Macau (http://www.wynnmacau.com). Wynn Las Vegas, a luxury hotel and destination casino resort located on the Las Vegas Strip features 2,716 luxurious guest rooms and suites, an approximately 110,000 square foot casino, 22 food and beverage outlets, an on-site 18-hole golf course, meeting space, an Ferrari and Maserati dealership, approximately 74,000 square feet of retail space as well as a theater, two nightclubs and lounges.
Encore, an expansion of Wynn Las Vegas opened on December 22, 2008. Encore is located immediately adjacent to Wynn Las Vegas and features a 2,034 all-suite hotel, approximately 76,000 square foot casino, 13 food and beverage outlets, a spa and salon, meeting space, approximately 27,000 square feet of upscale retail outlets as well as a beach club, a theater, two nightclubs and lounges.
Wynn Macau is a destination casino resort in the Macau Special Administrative Region of the People's Republic of China and currently features 595 deluxe hotel rooms and suites, approximately 222,000 square foot casino, casual and fine dining in six restaurants, approximately 48,000 square feet of retail space, a health club, pool and spa, along with lounges and meeting facilities.
We opened Encore at Wynn Macau on April 21, 2010. Encore is an expansion of Wynn Macau which adds a fully-integrated luxury hotel with 414 spacious suites and villas along with restaurants, additional retail space and gaming space.
PokerStars is the world's largest regulated gaming operator and poker site, with more than 40 million members. It's the first choice of the world's top players, with more daily tournaments than anywhere else and with the best security online. More hands have been dealt on PokerStars than any other site; that's over 50 billion hands dealt to date and more than 300 million tournaments played.
PokerStars operates worldwide under license from the Isle of Man Government (which is a United Kingdom White List jurisdiction). Recent additions to the PokerStars family include PokerStars.fr, which operates in France under the French government license, as well as PokerStars.it, which operates in Italy under the Italian government license, PokerStars.ee, which operates in Estonia under the Estonian government license, and PokerStars.be which operates in Belgium under license of the Belgian government for an initial trial licensing period.
PokerStars regularly sets the bar high, staging the biggest online poker tournaments in the world, including: weekly, the Sunday Million (the 5th anniversary of Sunday Million, on March 6, 2011 had 59,128 players competing for a prize pool of $11,825,600) and, annually, the World Championship of Online Poker (WCOOP) and the Spring Championship of Online Poke (SCOOP).
PokerStars is the official sponsor of some of the biggest live poker tournaments in the world, including: the European Poker Tour (EPT), the PokerStars Caribbean Adventure (PCA), Latin American Poker Tour (LAPT), North American Poker Tour (NAPT), and Asia Pacific Poker Tour (APPT).
For further information please call Wynn Resorts, Limited: Samanta Stewart +1-702-770-7555 [email protected] Jennifer Roberts Gardant Communications London +44(0)207-976-5555
SOURCE Wynn Resorts, Limited and PokerStars