Wynn and PokerStars Partnership Severed

The fallout from 'Black Friday' continues to have a ripple effect on all the major online gambling operators and land-based gambling companies.

Only a month ago we reported that Wynn Resorts Ltd. And PokerStars have come together to form an alliance that will lobby for the legalization and regulation of online poker for US players, and now we are forced to report that due to events in April 2011 Steve Wynn has decided to cut the recently-formed ties with PokerStars.

The idea behind the two companies coming together was a noble one; they wanted to lobby for and promote interstate legislation and regulation of online poker, and once the legislation was in place they would offer their joint services to US players.

When the partnership was announced many within the gambling industry wondered as to the nature of the relationship and the time of its inception.

It appeared especially puzzling considering Steve Wynn's previous views on the matter of online gambling, which were less than favorable. Just five short years ago Steve Wynn was one of the most vocal gambling industry leaders that objected to online gambling.

It seems that now with the indictments against PokerStars Canadian founder, the seizure of its doc.com domain by the FBI and the release of the dot.com domain only for recovery purposes of US players' funds; Steve Wynn had a change of heart and decided he does not want his Wynn Resorts Ltd. to co-operate with PokerStars and their proposed future joint venture will remain a mere proposition in a move that is just as puzzling as the initial coming together of these two gambling giants.