PokerStars signs agreement with Asian company for live tournaments
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The Stars Group, the owner of PokerStars, has signed an agreement with the Hong Kong-based International Entertainment Corporation (IEC) to host a series of branded live events across Asia.
In a statement filed at the Hong Kong Stock Exchange, IEC revealed the deal that Stars Group inked with IEC’s subsidiary Lucky Genius Ltd. The deal will expand the company’s range of entertainment products.
IEC operates a chain of hotels across Asia. It is not clear how PokerStars comes into the scheme of things for a hotel chain. The two companies are expected to work together to stage live poker tournaments in “certain Asian countries.”
The partnership comes just two weeks after PokerStars parted ways with Macau’s City of Dreams casino. Talking to GGRAsia, chairman and chief executive of Melco Resorts and Entertainment Ltd Lawrence Ho Yau Lung said the collaboration was no longer profitable.
At the time, it had been suggested that China’s plans to outlaw free-play poker apps were the reason for PokerStars’ split with City of Dream. Despite the impending legal changes, China and Asia as a whole are still seen as a growth market for the game.
With Macau home to some of the richest cash games in the world and poker tours like the Triton Poker Series attracting big-name players, the game is continuing to gain traction in the region.
Source: European Gaming Industry News