Amaya Gaming’s Heavy Entry Price Into New Jersey Revealed
The much delayed license approval of PokerStars into New Jersey recently came with a heavy price. It has been revealed that the New Jersey Division of Gaming Enforcement (DGE) gave PokerStars and Full Tilt Poker‘s parent company Amaya Gaming an ultimatum if they wished to receive their long awaited license.
The condition was that Amaya had to fire four senior executives who the DGE considered tainted. The DGE was adamant to sever all ties with PokerStars founder Isai and Mark Scheinberg who were indicted on what is known as Black Friday in April 2011 for allegedly serving U.S. based online poker customers.
The report of the DGE surrounding the acquisition by Amaya of PokerStars and Full Tilt Poker for $4.9 billion last year was released on Friday. Amaya pleaded to the DGE that they had succeeded in “irrevocably and totally extinguishing the ownership interest of Isai and Mark Scheinberg” and had ensured that the Scheinbergs and other tainted execs “will have no further involvement in the operation or management of their former companies.”
After examining 45,000 documents as well as over 70 sworn statements of previous employees of PokerStars and Full Tilt Poker finally announced that it was satisfied that Amaya has “ permanently and irrevocably severed all of the ownership interests” of the Scheinbergs.
The four executives who had to go were according to reports the former CEO of PokerStars, Michael Hazel, director of operations for Rational Group, Israel Rosenthal, former head of games systems development Charles Fabian and software manager Serge Bournekov.
If that’s not enough Amaya are also compelled by the DGE to provide minutes of all meetings involving their board of directors as well as audit and compliance committees.