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PokerStars Still Determined to Acquire Atlantic City Casino

PokerStars Still Determined to Acquire Atlantic City Casino

The Atlantic City Casino recently put out a brief statement saying that the conditional deal it had signed with PokerStars’ parent company, Rational Group, has terminated without giving any details why.

PokerStars Still Determined to Acquire Atlantic City Casino

The Rational Group is still set on acquiring the Atlantic City Casino despite the termination of the deal

The Rational group responded saying that it was still interested in going ahead with the deal to buy the casino, even though the time condition has expired.

Eric Hollreiser, the Rational Group’s spokesman, said “Several days ago the Rational Group received a purported notice of termination of this agreement from the current owners of the Atlantic Club.

It was the Rational Group’s expectation and understanding, based on the ongoing dealings between the parties, that the closing date would be extended to allow the transaction to be completed. The Rational Group remains entirely committed to resolving this situation and to our investment in New Jersey.”

Part of the deal between the companies stipulated that the Rational Group receive a license from the New Jersey gambling authorities to go through with the deal. The Group has completed the license application process and is currently waiting to receive permission from the casino regulators.

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.