PokerStars might be withdrawing from the Australian market.
The losses could be offset by looking at the Indian market instead. That is what Amaya management believes such as Rafi Ashkenazi says who CEO of Amaya is currently. India is a new market that presents opportunities which will help offset the losses that would come by as the Australian market is being closed to them.
There are new laws coming in, which might make PokerStars illegal to operate in the country. As the company wants to keep its operations clean, it has decided to pull out of the Australian market in light of a new legislation that has been passed. The new law that is being introduced will make the country a black market for online gambling ventures to operate. PokerStars have always maintained a clean reputation across the world. It has always obtained licenses to operate in different countries. Hence, if the new legislation that comes into operation in Australia makes it a black market for online gambling, then the company has to withdraw its operations from here.
Amaya will not be able to procure a license for PokerStars. That is because the country has never legalized online poker, unlike other forms of online games like sports betting. The Ministry of Services has taken this stance to be tough on online wagering activities. There are several offshore activities that take place among wagering providers. The bill that has been introduced to prevent offshore wagering will turn any online gambling venue into an illegal operation. Hence, companies like Amaya need to plan to move out of this scene and seek more favorable pastures. For a company like PokerStars it becomes difficult to operate in such a scenario. The company is now planning on ways to offset the likely losses they will suffer.