PokerStars Committed To Isle Of Man Base
by Mike Godfrey, Lowtax.net, Washington
26 June, 2014
PokerStars, a leading online poker room, has reiterated its commitment to the Isle of Man in an open letter to the Department of Economic Development, following its recent takeover by Amaya Gaming Group Inc., now the world's largest publicly-traded online gaming company.
In the letter, Paul Telford, legal counsel to the Rational Group of Companies, wrote: "PokerStars chose the Isle of Man for its headquarters because we believe it represents the gold standard in e-Gaming regulation. Amongst those limited jurisdictions that offer e-Gaming licences, the island takes a leading role in the areas of customer protection, fraud prevention, tax transparency, and anti-money laundering."
"The stated intention of Amaya is 'business as usual' and to leave things unchanged as much as possible. I can therefore confirm there are no planned redundancies. On the contrary, the clear intention of the acquisition is to take PokerStars on to even greater heights with plans for launches of new products and expansion into new territories such plans will likely lead to growth and job opportunities for the talent that exists in the local market."
Peter Greenhill, CEO for e-Gaming Development with the DED, responded to the letter, saying: "The fact that we have a number of major global brands in e-Gaming and e-Business headquartered in the Isle of Man is an influential factor when we seek to attract further business to the Isle of Man. We are confident that growth within e-Gaming and the broader e-Business sector will continue such that it will represent 23 percent of our economy by 2020 and employ 2,400 people."
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