Atlantic Club Casino Fires Back at PokerStars

PokerStars LogoFor months now PokerStars has been in the process of purchasing the Atlantic Club Casino. However, with the AGA getting involved and political sentiment not exactly going the Rational Group’s way, they have since lost the bid to purchase the struggling New Jersey establishment.

The Atlantic Club has now made comments about PokerStars and they do not paint the poker brand in the best light.  In fact, the newest public comments seem to be taking direct aim at their management.  Lawyers representing the Atlantic Club have stated that the casino did not know about all of the illegal activities Isai Scheinberg, founder of PokerStars, as well as other key executives, were involved in during the Black Friday crackdown.

According to a recent report by NorthJersey, the lawyers for the Atlantic Club released the filings which read:

“This action involves a sophisticated party’s attempt to avoid the consequences of an unambiguous provision in a contract that it executed after extensive negotiations and with the advice of counsel. Plaintiffs agreed to a termination provision that included the surrender of advances and a termination payment as the cost of securing an opportunity to acquire the Atlantic Club.”

The Atlantic Club does not want to risk the fact that the PokerStars bid to purchase the casino would continue through most of the summer only to most likely be rejected by the state in the end. They would then lose out on the potential of any prospective new buyers.  Representatives for the casino also stated that the casino would see ‘catastrophic’ results if the PokerStars restraining order is not removed.

In addition, the restraining order does not allow the casino to work with other buyers, which would only put them deeper in the hole financially.  Considering the Atlantic Club has already lost tens of millions of dollars in the last few years alone, this would be horrible news for the casino.

PokerStars, one of the best poker sites online today, is still hoping that their recent restraining order victory against them will provide them with the necessary time to sway favor into their corner and get a deal finalized to buy the Atlantic Club Casino.

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