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PokerStars Poised to Save Atlantic City

Last December PokerStars reached an agreement to by the struggling Atlantic Club Casino Hotel, just two months later New Jersey legalised online gambling within the state which put PokerStars in a position to be a key player in a market worth billions of dollars.

PokerStars Poised to Save Atlantic City

PokerStars Poised to Save Atlantic City

PokerStars could now be key to saving Atlantic City which for years has seen a drop in visitors and profits. However, in the past PokerStars has faced accusations of illegal gambling, money laundering and bank fraud.

PokerStars has pledged to spend $40 million refurbishing the casino and has already spent $11 million ensuring that its doors stay open during the transition period. Eric Hollreiser, PokerStars’ spokesman, said “We plan to invest heavily in the state and help to make it an attractive hub for i-gaming in the U.S. and around the world.”
According to analysts PokerStars and its newly acquired brand Full Tilt Poker are the biggest names in the business and they may be best positioned in the fight for dominance in the online gaming market.

However, with memories of federal case against PokerStars still fresh, the company faces an uphill battle to receive the approval it desperately means.

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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