Home / Poker News January 2013 / PokerStars’ Atlantic City Casino Purchase on Track
PokerStars’ Atlantic City Casino Purchase on Track
Posted by: Jo Martin - Thu, 2013-01-17 07:52
About a month ago, the
poker community latched onto rumors regarding
PokerStars’ potential purchase of an Atlantic City brick-and-mortar gambling establishment. The news was considered significant indeed, in light of the fact that such a purchase could potentially allow PokerStars to return to the US market. We can now tell you that the company behind PokerStars, Rational Group, has apparently secured a deal regarding the purchase of the Atlantic Club Casino. What exactly does all this mean though in terms of PokerStars’ possible move into the land-based New Jersey gambling market?
In the current state of affairs, Rational Group, PokerStars's parent company, has agreed to purchase the Atlantic Club Casino from Resorts International Holdings. What is needed for the deal to go ahead is a grant from the New Jersey authorities which would award the establishment an Interim Casino authorization. That wouldn't be the end of the purchase process either though. The final stamp of approval on the deal would be that of the New Jersey Casino Control Commission.
All in all, the various New Jersey authorities required to stamp their approval on the deal have a combined 120 days at their disposal to pronounce a verdict.
Needless to say, if the deal does indeed come to fruition, it will be a historic one. No Internet-based gambling company has ever purchased a land-based operation in Atlantic City before. As far as the management of the company is concerned, it would be retained in its current shape and form after the acquisition. Also, around 2,000 jobs would be saved by the move.
Whether or not news of the acquisition will in any way influence Gov. Chris Christie's signing of the Internet gambling and poker bill currently on his desk, remains to be seen.
