After EIGHT long years, PokerStars settles with Kentucky

Shells

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In December of 2020, Kentucky's Supreme Court had ruled, pokerstars owed the state of Kentucky $1.2 Billion, a fine that was originally placed against PokerStars in 2015. However, that number has decreased to $300 million.

How did the Kentucky state lawyers come to the amount of $1.2 Billion? Here are their calculations:

State lawyers estimated that between 2007 and 2011, 34,000 Kentuckians wagered $290 million through PokerStars. They then tripled that figure and added 12% interest, bringing their total claim to $1.3 billion in 2015.

More details are in the article linked below.

PokerStars Settles Kentucky Lawsuit for $300 Million
 
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fundiver199

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Unfortunately it does not seem like, this settlement will result in PokerStars being available to players in Kentucky?
 
Shells

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Unfortunately it does not seem like, this settlement will result in PokerStars being available to players in Kentucky?

Personally, from what I can tell, it doesn't seem too likely.
 
antonis32123

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The whole Black Friday matter was settled between PS and US federal government , now every state to go after PS and demand millions of $$$$$ in the name of the ex poker players-residents of that state , that is unethical , blackmail , stupid , abuse and overuse of power over an enterprise .

If they want more money to distribute deliberately as financial support to their very rich citizens ( actually for their penthhouses , the parties and orgies ) , every state should go after the casino landlords in their area , leave online poker rooms alone, , or better tax some middle class suckers in their jurisdiction area ( usual practices , lol )
 
Tracid

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Hmmm...

Wonder who ultimately will be footing the $300m bill for this! :mad:
 
Tracid

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Players from other countries.
End users in some way or other, that's for sure!

Something tells me it won't be coming out of the corporate bonus fund... :laugh:

PokerStars has probably sneezed more than $300m in the past though. :dontknow:
 
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fundiver199

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End users in some way or other, that's for sure!

And since the vast majority of americans can still not pay on Stars: end users from other countries.
 
Tracid

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And since the vast majority of americans can still not pay on Stars: end users from other countries.
Heard that they're short of a fried chicken outlet or two there, perhaps the $300m can go towards building a few- we wouldn't want anyone on the planet withering away now... :eating:
 
Luvepoker

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Why regulate and tax it when this is so much better for them. :( Bleeping government.

Sadly the more i read this the more pissed off I get.
 
Mati532

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I ask the same as Joe, who will end up paying the 300 million?:hmmmm:
 
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DS3

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I knew there were dodgy things about this entire case so I went back and double checked a few points.

First. the contention was that 30,000 Kentuckians had all deposited an average of $10,000 each. Ridiculous . Which meant that about one in every hundred Kentuckians over 18 was online playing poker. Ridiculous. Obviously the total players on line across the globe is available in the PokerStars lobby and I do not believe I have ever seen it above 200,000.

But, 30,000 Kentuckians.

As far as I am aware paid little regard to those who had winnings.

The second thing I was reminded of was that Michael Brown from the Kentucky Justice and Public Safety Department who filed the lawsuit now works for Governor Andy Beshear as his executive secretary. And guess what Beshear called for last year? The state to pass internet gambling legislation. This has been an epic ****take from start to finish. It does not surprise me that while the Kentucky Appeals Court correctly struck down the law (as the state itself cannot sue in this manner on behalf of citizens) the Supreme Court overruled them.

Finally it has suited Kentucky to encourage gambling for decades in the form of numerous lotteries (I believe running several times a week) as what this does is raise revenues for government expenses (education/scholarships etc). The fact that revenues go to good causes cannot obscure the fact the state government is all for gambling as long as they get their hands on the revenue.
 
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fundiver199

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First. the contention was that 30,000 Kentuckians had all deposited an average of $10,000 each.

The estimate of an average deposit of $10.000 per player is probably also a bit on the high side considering, that most online activity is in the micros ;)
 
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DS3

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The estimate of an average deposit of $10.000 per player is probably also a bit on the high side considering, that most online activity is in the micros ;)

Precisely! No doubt some had deposited that amount or more, however, as an 'average' amount it is absurd.

But its all politics and BS in my opinion. Beshear, the governor, as reported actually ran on legalizing on line activities (2020) but since coming to office there has been no moves to pass anything. Further as noted Kentucky state law allows for individuals to sue entities for loss of income regarding 'games of chance' but the state cannot do so. Yet, the Supreme Court overruled the Kentucky Appeals court - so much for state's rights.
 
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