The Atlantic Club Casino is a gambling facility located in Atlantic City, New Jersey which was built by Steve Wynn in the early 1980s. The casino was then called the Golden Nugget and has changed hands and names many times over the years. It was recently reported by the Wall Street Journal that the casino may soon be purchased by online poker giant, PokerStars. The online poker site is currently in negotiations to purchase the casino in preparation for real money online gambling in the state.
The Atlantic Club is currently struggling and PokerStars seems to be moving in at just the right time. The purchase price for the casino is rumored to be at $50 million and if PokerStars makes the purchase, it would place the brand in the right position to offer online poker to residents of New Jersey. The state is currently in a push for online gambling as a bill is working its way through legislation.
Just this past Monday, the New Jersey Assembly Committee resurrected a measure which would allow online gambling in the state. Specific language which would have excluded PokerStars from gaining a license has been removed, so it seems as though everything is lining up perfectly. Raymond Lesniak, a state senator for New Jersey, has stated that he believes the bill will come up for a vote in both houses over the next two weeks. If the bill moves forward, the governor will have to agree to it and sign it into law before it will take effect.
If legislation is passed in the state, PokerStars would be eligible to apply for a license to offer real money poker online in the state thanks to their deal with the US Department of Justice. Hopefully, by the end of the year, the state will see online gambling legalized and this will be the start of a trend in the US.
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