Fertittas buy online gaming company
- More gaming stories (10-3-2011)
Fertitta Interactive, the online gambling company established last year by the family who owns Station Casinos, announced it has bought California online gaming company CyberArts Licensing LLC.
The Internet start-up is trying to position itself in front of its competitors in anticipation of online gambling being legalized in the United States.
CyberArts creates Internet and mobile gaming sites for casino operators. The Fertittas hope to parlay their purchase into an online poker site when the federal government approves the activity — a development that many industry observers believe is imminent.
“Fertitta Interactive fully supports the federal regulation of online poker in the United States,” Lorenzo Fertitta said in a statement. “In CyberArts, we found a leader in the development and design of online gaming software with an exemplary track record of regulatory compliance. We will be working on new and innovative products with the goal of ultimately providing consumers with the best online gaming experience in a safe and secure environment.”
Earlier this year, Fertitta Interactive entered into a partnership with Full Tilt Poker. But that alliance could hurt the company since Full Tilt Poker was named in an indictment accusing it of laundering billions of dollars through sham companies to circumvent the Unlawful Internet Gambling Enforcement Act. While CyberArts is based in Oakland, Calif., it has never accepted bets from U.S. customers.
Fertitta Interactive is owned by brothers Frank Fertitta III and Lorenzo Fertitta, owners of Station Casinos, and Tom Breitling and Tim Poster, former owners of the Golden Nugget. The amount the company paid for CyberArts was not disclosed.