PokerStars Withdraws Bid to Buy Atlantic Club Casino
After a drawn out court battle PokerStars’ parent company, the Rational Group, has given up on its attempts to buy the Atlantic Club Casino Hotel.
The company’s lawyer sent a letter notifying casino regulators in New Jersey that the company is withdrawing its petition to take over the casino. A copy of the lead was released to the press and since then Rational Group spokesman, Eric Hollreiser, said “We are no longer pursuing an acquisition of the Atlantic Club.”
Instead the group has linked with the Resorts Casino Hotel for internet gambling in New Jersey.
However, Hollreiser said that the litigation will continue in regards to monetary damages.
The company wants the courts to order the casino to return the $11 million that was spent towards the $15 million purchase price.
The Rational Group is seeking approval to operate as a “casino service industry enterprise” which would allow PokerStars to partner with Resorts. The Division of Gaming Enforcement will now review the application and decide whether to licence the Rational Group.
Spokeswoman for the Division of Gaming Enforcement, Lisa Spengler, said “Rational Group’s application for Casino Service Industry Enterprise licensure will be reviewed as any other provider for Internet gaming”.