In breaking news from Las Vegas, Station Casino owners Frank and Lorenzo Fertitta and their company, Fertitta Interactive, have teamed up with Full Tilt Poker to create a USA-facing online poker venture should the industry become legalized and regulated. Another co-owner of Fertitta Interactive, Tom Breitling, told the Las Vegas Review Journal that the “agreement covers only potential Federal legislation for internet poker.” The Station Casinos brand does not appear to be involved in any way.

An official press release is due out on Thursday. The Review Journal added, “In an e-mail, Breitling said the partnership backs Federal legislation, not Assembly Bill 258, which is being debated in the Nevada Legislature and authorizes the state to legalize internet poker. Rival online gaming company PokerStars is backing the legislation.” AB 258 was discussed in committee in Nevada last week.

On the Federal level, the best hope for the online poker industry appears to be HR 1174, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act. The measure, which was introduced by Congressmen John Campbell (R-CA, pictured) and Barney Frank (D-MA), has two other co-sponsors: Peter King (R-NY) and Ed Perlmutter (D-CO). You can do the math and see the bill has two Republican and two Democratic backers.

HR 1174 encompasses the same basic characteristics as Frank’s HR 2267, which was approved by the House Financial Services Committee by a 2:1 edge last July. However, it never saw discussion on the floor of the House of Representatives and was declared dead when it wasn’t acted upon by the end of the last Congressional session.

On why HR 1174 came to light so early, only about two months into the 112th Congress, Poker Players Alliance Executive Director John Pappas told PocketFives.com, “The bill was already written because it was passed in 2010 out of committee. Therefore, the drafting process wasn’t as strenuous as it normally is. They wanted to get something out there and this was a good time to do it before members went on break.”

Among those backing Federal legislation like HR 1174 will be Full Tilt and Fertitta Interactive. According to the Review Journal, “If Federal legislation passes and appropriate gaming licenses are acquired, Full Tilt Poker and Fertitta Interactive would jointly operate an online poker site.” Tiltware executive Ray Bitar told the Wall Street Journal that Full Tilt would continue to function under its current name in the USA.

Additionally, Frank and Lorenzo Fertitta are majority owners of the Ultimate Fighting Championship (UFC), “which could become part of the cross-marketing efforts with the proposed internet poker site,” according to the Las Vegas media outlet.

The month of March has been a busy one for online poker sites, as three announced partnerships with companies linked to land-based casinos. In an agreement made official last week, PokerStars and Wynn Resorts will jointly push for pro-internet gambling legislation and operate PokerStarsWynn.com when and if the industry is legalized.

Earlier this month, Caesars Entertainment and 888 announced a partnership to develop the World Series of Poker brand in the U.K. Caesars owns and operates the annual tournament series, which gets underway exactly two months from today at the Rio in Las Vegas.

Posters on PocketFives.comwondered what’s next for partnerships in the online poker world. One community member assessed, “So unless I’ve missed something, that leaves PartyPoker and MGM? Let’s hope so.” Party Gaming, the parent company of PartyPoker, is rumored to have signed a deal with a U.S. casino company already, although who the suitor is has not yet been announced.

On whether Station Casinos would be involved in Full Tilt’s deal with Fertitta Interactive, the Wall Street Journal explained, “The Las Vegas chain wouldn’t be involved in the Full Tilt partnership.”

We’ll have more details for you as they develop right here on PocketFives.com.