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ATLANTIC CLUB CASINO WARNS ON STAFF LAY-OFFS
Wednesday January 30,2013 : ATLANTIC CLUB CASINO WARNS ON STAFF LAY-OFFS
Could the Pokerstars acquisition make a difference to New Jersey legalization law?
Industry observers speculated Tuesday on whether the proposed acquisition of the Atlantic Club land casino in New Jersey by Pokerstars would stave off extensive staff lay-offs that might lay ahead.
The speculation was triggered by a warning Monday to staff at Atlantic Club that 1,729 jobs could be lost by the end of March. The warning was a state labour regulatory requirement associated with the proposed acquisition by Pokerstars parent company Rational Group, said Michael Frawley, Atlantic Club’s chief operating officer.
“While there is no anticipation of layoffs or cessation of operations, as our company moves through this transaction process, the issuance of notices under WARN and N.J. WARN is a necessary legal requirement," Frawley explained.
The acquisition is currently pending the grant of an Interim Casino Authorization by the relevant New Jersey authorities, according to Eric Hollreiser, Rational Group's head of corporate communication.
Inevitably, there have been reports linking the Atlantic Club sale to the pending matter of New Jersey's online gambling legalisation law, currently awaiting Governor Chris Christie's signature or veto .
There has been some speculation that the sale of Atlantic Club may be contingent on the passage of the new New Jersey legislation, placing more pressure to sign on the governor. These reports have, however, not been confirmed or substantiated.
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Gambling News :
Wanajump Launches -
#Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.
Coral Launches player proposition betting product -
Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.
Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
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