LAS VEGAS, March 25, 2011 /PRNewswire via COMTEX/ --
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
"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
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
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:
SOURCE Wynn Resorts, Limited and PokerStars