Following UK media speculation this week, InfoPowa contacted the management at second ranked online poker site Poker Stars to ask for confirmation that the company was moving to the Isle of Man. We also asked whether speculation that a London listing was planned had any foundation, who the broker would be and what sort of listing price we might expect.
In a prompt and courteous response, the company confirmed that it has obtained a license in the Isle of Man and would be moving to that jurisdiction in the near future. However, the response emphasised that the company would not comment on speculation regarding a listing – a fairly standard response under these circumstances.
Poker Stars is owned by an Israeli family called Scheinberg and has been based in Costa Rica. It is understood that a new CEO who will operate from the Isle of Man is currently being sought.
It is believed that the IOM’s action in removing bans on its licensees accepting US bets was an important incentive for Poker Stars to make the big move.