Over the past few month PokerStars’ parent company, The Rational Group, has been in the process of trying to purchase the Atlantic Club Casino located in New Jersey.
The group had initially came to an agreement to purchase the casino and would have used the site as a stepping stone to get their poker client back into the United States. However, after many setbacks, sources are saying the group is now out of the running to purchase the property.
The Wall Street Journal has reported that many people involved in the deal have stated that the deal is a bust. The deal is now expired and a new contract does not seem to be in place.
The deal stated that PokerStars had until this past Friday to earn a casino license from gambling regulators in the state and this act would maintain the agreement. However, the regulators told PokerStars it could be as late as August before the decision to grant PokerStars a license would be made.
If the deal had continued, it would have almost been too perfect. PokerStars would have a casino in which to offer gambling options to residents and visitors as well as an open option to begin offering online poker and other gambling games as the state has legalized online gambling options. New Jersey is only awaiting regulation and online options would then be allowed to begin.
The gambling group’s attempt to purchase the casino has not gone unnoticed by the gambling industry. Many casino companies have been opposed to the group purchasing the casino, citing that PokerStars past in the United States was considered to be illegal and the company should not be allowed to legally operate in the US. A representative for PokerStars has yet to comment on the deal falling through.
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