PokerStars targets Russia as regulation hopes receive boost
Amaya CEO "very optimistic" Russian market could open up as study concludes poker should be reclassified as a game of skill
PokerStars has its sights firmly set on the huge Russian market as momentum continues to build behind the country reclassifying poker as a game of skill and the establishment of a regulated online market.
David Baazov, CEO of PokerStars’ parent company Amaya Gaming, said his firm had “boots on the ground” in Russia and that he was “very optimistic” about the country moving towards regulation.
“It is very clear that [the Russian government] would like to regulate poker,” Baazov told analysts on a conference call after Amaya released its Q2 revenue results yesterday.
“Obviously that is something we feel is very positive as we do not think the Russian market is even close to saturation,” he added.
Baazov’s comments come after a Russian government-commissioned study recently concluded poker should be reclassified as a game of skill, rather than a game of chance, opening up the possibility of the country legalising and regulating the activity to generate much needed tax revenues.
While reports from the country suggest no decision has been made on the reclassification or regulation of poker, it is believed any online market would require operators to house their online servers within the Russian borders.
And if Russia does successfully implement a regulatory framework for poker, there’s no guarantee PokerStars or other foreign operators will be handed the chance to compete in the market.
The country recently opened up to online sports betting for the first time, but in a move aimed at protecting indigenous operators licences were only made available to Russia-based companies.
Amaya has bold plans to double the size of the global poker market over the next five years, but achieving those lofty ambitions will rely on major markets such as Russia embracing regulation.
“As David [Baazov] noted, and consistent with our experience globally, we generally see market growth when markets regulate,” PokerStars spokesman Eric Hollreiser told eGaming Review.
“Given the size of the market and the existing strong interest in poker, Russia has good growth potential,” the spokesperson added.