PokerStars has reasserted their position as a potential buyer for the Atlantic Club casino after filing an appeal with the New Jersey court system. The company has asked for an appeal in the recent ruling against them to allow the Atlantic Club to terminate their deal with PokerStars.
For months, PokerStars was working to acquire the Atlantic Club in Atlantic City, New Jersey. The casino was struggling financially so the acquisition would have been great for the city as well as a way for PokerStars to get their name back in the United States. However, the poker room ran into difficulty as the American Gaming Association was strongly against the brand taking control of the casino and tried to create a campaign against the company.
In the end, PokerStars parent company (the) Rational Group, had a deadline to receive a license in the state and were unable to meet the deadline. When the deadline was not reached, the deal was supposedly terminated. PokerStars fought back and on May 17th the court ruled in favor of the casino, which would cost the online poker company $11 million which they had already spent towards the purchase price.
The appeal created by PokerStars is said to be 34 pages long and apparently has listed several errors that were made by the presiding judge in the case, Raymond Batten. One error listed was that the April 26th date was not fixed and the license did not need to be secured by that time. PokerStars is claiming that the purchase agreement was not dependent on the date and that it was known that gaming officials in the state were going to take some time to rule on the application for PokerStars.
This is just one of many errors that PokerStars has stated that took place during the case. The state appellate court will now have to decide if Batten was wrong in his ruling for the purchase termination of PokerStars/Atlantic Club agreement.
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