PokerStars may be delayed from pursuing online gambling in the state of New Jersey but this has not stopped the online poker room from trying to enter the US market. The company focused the majority of 2013 on trying to gain entry into the US online gaming market by way of Atlantic City. The company first tried to purchase the Atlantic Club Casino but was eventually rejected and this seemed to be the starting point of bad luck for the company.
After The Rational Group, the parent company of PokerStars, was denied the purchase of the Atlantic Club, the company was then given a suspension for a license to operate in the state of New Jersey due to legal issues. PokerStars has now spoken out on the Atlantic Club incident as well as how the online poker operator will be focusing their movements in 2014.
PokerStars often takes to their blog to discuss events and goings on within the company. Just yesterday a post was placed on the blog which discusses the incident with Atlantic Club, and was the first time the company spoke out publicly about what is currently going on with the Atlantic City casino. After PokerStars was denied purchase at $15 million, the casino was sold to Tropicana and Caesars at a higher price to eventually be shut down later this month. PokerStars stated their thoughts in the blog:
“It’s always sad when hardworking people lose their jobs, especially during the holiday season. This is particularly sad, though, because it simply didn’t have to happen. At this time last year, PokerStars reached an agreement that would secure a new future for the casino, save the jobs of 1,800 employees and inject new blood, new technology and new finances into the Atlantic City casino economy.”
Rational Group had given the Atlantic Club the majority of the promised $15 million they were to pay to purchase the casino. The money was given in advance to help the casino move past Hurricane Sandy, despite the fact that online gambling had yet to be approved. The company then began to get excited as iGaming legislation was passed. PokerStars then stated in the blog that it was then that the former owners walked away from the contract instead of waiting a few months for the regulatory approval needed for the process to be complete.
The casino will now be divided among Caesars Entertainment and Tropicana Entertainment and the employees will have to find new jobs. In the blog post, PokerStars stated that they do not ‘share the vulture-like management practices that led to the coming job losses and disappointment of thousands of people in New Jersey’ as the struggling casino closes.
The blog post was posted by Eric Hollreiser, a representative of PokerStars, who further stated the company would be exploring other states for gaming deals as well as continuing to try and gain licensing in New Jersey.
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