One of the biggest headlines in the history of online poker came down on Thursday night, when it was announced that Amaya Gaming had purchased the parent company of PokerStars and Full Tilt Poker, the Rational Group, for $4.9 billion. Whether PokerStarsor Full Tilt Poker is able to return to the United States in some capacity remains to be seen, but what we do know is that the largest publicly traded online gambling company in the world has been created.

Commenting on the sale late Thursday night was the Poker Players Alliance, whose Executive Director, John Pappas (pictured), said the transaction was “encouraging news” for US players: “This is encouraging news for millions of American players who have anxiously awaited the return of PokerStars to the US. Amaya’s acquisition should remove any perceived impediment for this popular brand to once again be available to players in regulated US jurisdictions. This is a positive development for poker enthusiasts and the potential return of the PokerStars brand will grow our game.”

PokerStars and Full Tilt have 85 million registered users combined, which means Amaya finds itself in a position of great influence within the gaming community. Pappas believes the company will take the bull by its horns: “Amaya Gaming has emerged as a force in the internet gaming marketplace and today’s news further cements their leadership position… I am confident that they will continue to offer the same commitment to consumers and level of service players have come to expect.”

The presence of PokerStars, complete with its retained executive management team, could push more states and/or the Federal Government to enact pro-internet gambling legislation. As Pappas said, “I am also hopeful that today’s news will bring the gaming industry together – tribes, commercial casinos, card rooms, lotteries, and others – to push as a united front for state and Federal legislation that licenses and regulates internet poker.”

He continued, “There is no sense in battling for pieces of the internet gaming pie when competitive urges keep the pie from even getting out of the oven. The players, who are left without a safe and regulated place to play, have grown increasingly frustrated.”

Californiacould prove to be quite a quandary for Amaya, the new owners of PokerStars and Full Tilt once its shareholders approve the deal. As Online Poker Report relayed, PokerStars might still struggle to gain a foothold in the largest US state by population: “Proposed legislation in California excludes not only operators, but also intellectual property such as brands and software connected to online bets taken from the US market after December 31, 2006.”

Speaking on PokerStars’ prospects in California, Pappas told PocketFives in an exclusive statement, “I believe the ‘bad actor’ language that targets assets is very problematic and cannot remain in the bill. Never before has a gaming asset been deemed ‘tainted’ and ‘unsuitable’ for licensing. It would set a troubling precedent in gaming law. Just think of the early days of Vegas when the Mob owned and ran the casinos.”

Pappas added, “I also question the constitutionality of a law that punishes a company or its assets when they have never violated state or Federal law and even further have settled all matters with the Department of Justice and admitted no wrongdoing. The language just doesn’t make sense and doesn’t belong in any bill.”

We’ll continue to bring you updates on this breaking story right here on PocketFives.

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