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PokerStars May Have Missed Atlantic Club Casino Opportunity

PokerStars May Have Missed Atlantic Club Casino Opportunity

PokerStars may have missed its chance to buy the Atlantic Club casino in New Jersey as the deadline to complete the deal has passed.

PokerStars May Have Missed Atlantic Club Casino Opportunity

There are reports that PokerStars has missed the chance to purchase the Atlantic Club Casino.

Since last Autumn PokerStars has been in talks to buy the casino from a California investment firm, Colony Capital. The deal was considered crucial to New Jersey’s online-gambling market and reviving struggling Atlantic City.

However, it has been reported that one of the conditions of the deal was for PokerStars to obtain a temporary license from New Jersey gaming regulators by Friday last week. So far the state’s Division of Gaming Enforcement has not granted a license and it has said that it could take until the middle of the summer for it to make a recommendation to the state Casino Control Commission which ultimately decides if PokerStars gets a license.

So far the only word from PokerStars was from spokesman Eric Hollreiser, “Given the confidential nature of our agreement, it would not be appropriate for me to comment.”

However, State Sen. Raymond Lesniak said, “I wouldn’t believe anything right now and just wait until the decision from the Division of Gaming Enforcement.”

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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