Mark Scheinberg is the son of Isai Scheinberg, the mind behind online gambling pioneer PokerStars, founded in 2001 when the Internet gaming industry was still nascent. After more than a decade growing the company, the Scheinbergs cashed out three years ago, selling to Amaya Gaming for $4.9 billion. By the time of the sale, Mark was the majority owner in PokerStars’s parent company.
Scandal has followed PokerStars—last year saw a $870-million judgment from the Commonwealth of Kentucky that ruled the site was in violation of its gambling laws. Still, Scheinberg continues to keep a low profile, never commenting on the company’s legal troubles in the press.
In 2006, as the American government started to crack down on online gaming, his competitors began to drop out. But Isai kept servicing U.S. players—a move that landed the company in considerable legal trouble, which eventually ended in a $731-million settlement with the Department of Justice. (A criminal indictment is still outstanding for Isai.). Meanwhile, the younger Scheinberg has his sights set on Spain’s real estate market. This spring, he spent €225 million for a 50% stake in Centro Canalejas Madrid—a multipurpose complex that will replace historic buildings near the heart of the country’s capital city.
Updated Thursday, November 9, 2017
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