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PokerStars Files Appeal in Atlantic Club Casino Case

PokerStars Files Appeal in Atlantic Club Casino Case

PokerStars has filed an appeal with the New Jersey court system over the recent ruling which prevented them from going ahead with plans to buy the Atlantic Club casino.

PokerStars Files Appeal in Atlantic Club Casino Case

PokerStars has appealed a court’s decision to prevent them purchasing the Atlantic Club casino.

PokerStars worked to acquire the casino for many months, however, difficulties arose as the American Gaming Association was against the move and created a campaign against the company.

Eventually PokerStars’ parent company, the Rational Group, were unable to meet the deadline to receive a license to operate in New Jersey.

When the deadline passed the deal was terminated, however, PokerStars fought back until the court ruled in favour of the casino.

By this point PokerStars had already spent $11 million towards the purchase price.

The appeal filed by PokerStars is reportedly 34 pages long and has listed several errors that were made by the presiding judge, Raymond Batten. One such error is that the April 26th date was not fixed as the deadline for securing a license. PokerStars claims that the agreement was not dependent on that date as it was known that gaming officials were going to take time to decide upon PokerStars’ application.

It will now fall to the state appellate court to decide if Batten was correct in his judgement.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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