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Pokerstars Atlantic City Casino Deal Dead

Wednesday May 1, 2013 :  GLITCH IN POKERSTARS ATLANTIC CLUB ACQUISITION ATTEMPT (Update)
 
Time runs out on acquisition agreement due to licensing approval delays
 
The attempt by Pokerstars parent The Rational Group to acquire Atlantic City's Atlantic Club Casino in New Jersey has encountered a hopefully temporary obstacle due to delays in the licensing process.
 
The original January agreement between Rational and Atlantic Club Casino parent group Colony Capital LLC called for Rational to successfully achieve an interim casino licence from the New Jersey regulators by April 26 2013, a date that has since passed, rendering the agreement invalid, reports the Wall Street Journal.
 
That does not preclude Rational and Colony Capital from renewing their agreement, perhaps with more practical timelines, given the delays in licensing so far, and the attempts by the American Gaming Association to derail the Rational Group initiative.
 
The acquisition of Atlantic Club could position Rational strongly in the newly legalised online gambling regime in the state, and the apparent failure of the two parties to extend their deal ahead of the expiry date has sparked speculation that Colony may be pressuring Rational to up its offer for the troubled Atlantic Club business.
 
New Jersey regulators have said that the regulatory and licensing framework to support the new legislation could be ready for implementation as soon as November this year

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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