PokerStars Quebec License is in the Cards
With the recent Amaya takeover deal, the company has wasted no time in moving forward. The Canadian gaming company is already seeing a PokerStars Quebec license in the cards. The recent takeover by Amaya for $4.9 billion included the acquisition of PokerStars.
While PokerStars has had some legal trouble in the United States, it is expected that the new ownership will help to wipe the slate clean and give the company a fresh start in a number of locations. While it was expected that Amaya and PokerStars would be making waves in the United States, it was unexpected that the gaming company would first begin on Canadian soil.
Loto-Quebec and Amaya Talks
Talks have begun between the official lottery agency in Quebec and Amaya Gaming. It is clear that the Loto-Quebec and Amaya talks are focusing on PokerStars. It was certainly expected that the Amaya takeover of the online poker operator would open new doors and re-open old doors.
Loto-Quebec has not been getting the profits it needs to. PokerStars and Amaya may be the answer that Loto-Quebec is looking for. Loto-Quebec needs additional income and if it opens its doors to PokerStars and gives the company an official license to operate in Quebec in exchange for income. This could help Loto-Quebec back onto the road of increased profits. In 2013, Loto-Quebec saw profits fall by 10.5 percent. The corporation's dividends also dropped as the profits fell.
A useful point in the negotiations for this deal is that Loto-Quebec and Amaya already have a working relationship. Amaya already supplies a number of devices to casinos and gaming technology for EspaceJeux.com, the Loto-Quebec online gaming site.
A Loto-Quebec spokesperson, Marie-Claude Rivet said that the talks between the two companies is still right near the beginning and has not yet reached an advanced level of negotiations. Because of the already existing working relationship between the Quebec-based Amaya and Loto-Quebec, it could mean that talks will progress speedily and a deal could be done quite quickly.
Gambling Monopoly Has Not Helped Quebec
Although there is currently only one legalised online gaming site in Quebec, there is still much international competition. The $26 million that was generated by EspaceJeux was far less than had been expected. While the figure had been up from the previous year, it is estimated that the gaming market in Quebec is worth a far greater amount. A deal with PokerStars could help bring the province to its projected gaming income.
