..

Globe and Mail Intimate Look at PokerStars Founder

Written by:
Patrick Flanigan
Published on:
Apr/22/2011
PokerStars

The Globe and Mail released quite a fascinating look at the man behind PokerStars, Israeli-born (or perhaps Canadian-born) Isai Scheinberg.

PokerStars founder and close to a dozen others were indicted last Friday for money laundering and bank fraud.  PokerStars, the largest online poker room, Full Tilt Poker and UB.com were also indicted.  Violation of the Unlawful Internet Gaming Enforcement Ace (UIGEA), it turns out, was the least of the crimes Scheinberg is alleged to have committed (that one just comes with a maximum of 5 years compared to the 30 for bank fraud and conspiracy). 

The Globe and Mail quotes something Scheinberg said to Vegas gambling mogul Steve Wynn while on board his yacht. 

From the Globe and Mail:

“Steve, in the American market we have so many customers,” said Isai Scheinberg, the 64-year-old founder of PokerStars.com. He said he wanted nothing more than to make online gambling legit. “It ought to be done right. And I don’t want to look over my shoulder at this point in my life.”

Wynn, for about a week or two, was all set to align his business with PokerStars.  That all changed when the indictments came down.

We get a little look into the private life of Mr. Scheinberg, who many believed truly wanted his industry regulated and – if the charges prevail – seemed prepared to go all-in to make that happen.

Isai Scheinberg is variously described as Canadian or Israeli Canadian. Property records show that he bought a modest house in Richmond Hill, a Toronto suburb, in 1988 and holds onto that $660,000 property today. No one answered when The Globe stopped by twice this week. The Scheinbergs did not return messages left with their international businesses and Washington lobbyists.

In the 1990s, Mr. Scheinberg worked at IBM Canada, where he helped develop a standard known as Unicode. This tool allows computers in, say, Asia to recognize script from Europe and vice versa.

 

The Globe and Mail also spoke to an unnamed former merchant, who claimed to be tricked into processing what he thought were accounts for a “marketing agency giving refunds on [Internet] widgets.”

You can read more of the article here.

 

- Christopher Costigan, Gambling911.com Publisher

 

Follow breaking headlines around the clock at Gambling911.com Twitter Here

 

Gambling News

Bookies Guide to Sharps and Squares

Bookies Guide to Sharps and Squares

When running an online sportsbook it is important to understand the difference between the two key types of players: Sharps and squares.

Bragg Gaming Launches With Betway

Bragg Gaming Launches With Betway

ORYX Gaming, a Bragg Gaming Group company ( TSXV: BRAG, OTC:BRGGF ), announced today that its entire RGS portfolio has gone live with leading global online sports betting and casino operator Betway via their market-leading ORYX Hub platform. Betway is licensed in several key jurisdictions. 

Payments Crucial to Ongoing Growth of US Online Sports-Betting Market

Payments Crucial to Ongoing Growth of US Online Sports-Betting Market

Quickly and easily receiving payouts of winnings is the most important factor for U.S. sports bettors when selecting an online sportsbook, and prioritized by 37% of players, according to research released today by Paysafe, a leading integrated payments platform. The latest All the Ways Players Pay report also suggests that offering digital wallets and other alternative payment methods allows sportsbooks to overcome the challenge of card declines.

Record Year for NJ Sports Betting; Casinos, Not So Much

Record Year for NJ Sports Betting; Casinos, Not So Much

New Jersey took nearly $1 billion worth of sports bets in December, an encouraging finish to a year in which coronavirus closures and restrictions sent overall gambling revenue down nearly 17%.

Casino Billionaire, GOP Mega Donor Sheldon Adelson Dies

Casino Billionaire, GOP Mega Donor Sheldon Adelson Dies

LAS VEGAS (AP) — Sheldon Adelson, the billionaire mogul and power broker who built a casino empire spanning from Las Vegas to China and became a singular force in domestic and international politics has died after a long illness.

Syndicate