PokerStars Pursue Acquisition Of Atlantic Club Casino

The parent company of online gaming giant PokerStars is seeking to acquire the Atlantic Club Casino Hotel, British daily newspaper Atlantic City reported late Tuesday afternoon.

The paper says the Isle of Man-based Reasonable Group, which owns and Full Tilt Poker, filed a document with the New Jersey Gaming Enforcement Administration seeking regulatory approval to buy Atlantic Club from its current owner, Resorts International Holdings.

As a first step, Rational Group submitted an application to DGE seeking preliminary approval for the acquisition of Atlantic Club, known as a temporary casino permit.

“The Department can confirm that an application has been received from Rational Group seeking temporary casino permits and other relief,” the agency said in a statement to the Press of Atlantic City on Tuesday. 카지노사이트 순위

The sale will be finalized after another organization, the New Jersey Casino Control Board, receives final regulatory approval.

Eric Holleiser, Rational Group’s corporate communications director, confirmed the agreement to buy the casino in a statement to the Review-Journal.

“The acquisition of The Atlantic Club Casino Hotel will secure up to 2,000 jobs and maintain the economic benefits that casinos bring to New Jersey,” Holizer said. “During this interim period, the Atlantic Club Casino Hotel will operate normally under current management, which will be retained after the acquisition is completed.”

The Wall Street Journal first reported in December that PokerStars was in talks to buy the troubled Atlantic Club for $50 million.

PokerStars agreed in August to pay the federal government $731 million to settle nine charges stemming from the April 2011 crackdown on illegal Internet poker.

The company did not admit any wrongdoing, paid back the money it lost to American players, and agreed that a portion of the settlement would be used to pay back full tilt customers.

PokerStars is also allowed to operate in states where online gambling is legal.

In December, lawmakers in New Jersey approved a bill that would allow online gambling. The bill is awaiting Governor Chris Christie’s signature, which has not yet said whether to sign it. He has until Feb. 4.

One of the provisions of the bill allows offshore companies to apply for a New Jersey casino license, which could open the door for a reasonable group to take over the Atlantic Club.

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