Pokerstars Call Time on their Atlantic Club Casino Deal
Pokerstars who you may or may not recall were hoping to secure a land based casino, that being the Atlantic Club Casino which is based in New Jersey have finally decided to call time on their attempt to become the new owner of this land based casino, and have been in contact with the relevant Licensing Authority and have informed them that they are no longer interested in the deal.
The parent company who own and operate the Poker Stars site is the Rational Group who are based and head quartered on the Isle of Man, they have been very eager of late to become a licensed operation in New Jersey and this is why they sought to purchase a land based venue, as a way of ensuring their dreams of becoming a legalised online poker site in the US becomes a reality.
The deal to buy the Atlantic Club land based casino was always going to be tricky as they only had a limited amount of time to get everything in place, and whilst they did pay a rather large upfront payment to the land based company of some $11 million, it looks like this payment may be now lost with the deal not going through!
In fact a court battle did comments however it went the way of the land based casino and as such the Rational Group have been left licking their wounds. However they are still looking to snap up a land based venue in New Jersey and it would appear that they have now turned their attention to the Resorts Casino Hotel.
There is a lot of activity currently in New Jersey with many online poker sites doing deals and partnering with land based casinos, and this is of course due to the New Jersey State soon to be relaxed laws surrounding online poker sites, and as such both land based and online companies are eager to be some of the first to allow legalised and regulated poker sites to their customer bases.
There are of course only a limited amount of land based legalised gaming operators in New Jersey and with competition being so strong between them all then it is certainly going to be a case of survival of the fittest in regards to which ones get their online poker site licences first!