Many sites, including PartyPoker, immediately suspended business with U.S. Congress passed the Unlawful Internet Gambling Enforcement Act of 2006. PokerStars overtook PartyPoker as the world's largest online poker room after the U.S. Analysts estimated its market value would have been approximately US$2 billion in 2006, which would have made the company one of the world's largest privately held gambling companies. While privately owned, PokerStars had been the subject of financial media speculation regarding a possible initial public offering or merger with a publicly listed company. In February 2012, PokerStars acquired a European Union license granted by the Malta Lotteries and Gaming Commission.
PokerStars holds numerous licences in other jurisdictions (see Regulated Markets below). The move was driven by the establishment of a 0% corporate tax rate and the removal of rules barring companies from accepting casino and poker bets from the United States. The company was subsequently moved to Onchan, Isle of Man. PokerStars was originally a Costa Rican company, Rational Enterprises, which was majority owned by the Israeli Scheinberg family. The company began offering real money wagering on December 12, 2001. PokerStars launched its beta play-money-only site on September 11, 2001. PokerStars was part of The Stars Group until it was sold to Flutter Entertainment, owner of the Irish gambling company Paddy Power, on May 5, 2020. The press has called this the " Moneymaker effect." As the first person to become a world champion by qualifying at an online poker site, Moneymaker's 2003 win was an important factor in catalyzing the poker boom of the mid-2000s. It is the largest real money online poker site in the world, controlling over two-thirds of the total online poker market, and can be accessed through downloadable poker clients for Windows, macOS, Android and iOS.Ī online satellite tournament produced the 2003 World Series of Poker (WSOP) champion, Chris Moneymaker.
Screenshot of the Pokerstars GUI (the "classic" theme) at a real money table
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