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Pokerstars AC Casino Deal Off
Wednesday May 1, 2013 : ATLANTIC CLUB SALE GLITCH MAY BE MORE SERIOUS THAN WAS AT FIRST THOUGHT
Land casino exec says "the deal is off" and that he is open to other offers
Originally thought to be a mere "agreement time-expired" glitch, the acquisition deal between Pokerstars parent The Rational Group and Atlantic City land casino Atlantic Club owners, Colony Capital LLC could be more serious than was at first thought.
The agreement called for Rational to obtain an interim casino licence from the New Jersey regulators by April 26 2013, a date that has since passed, rendering the agreement invalid.
However, the Associated Press news agency reports that the deal has been terminated, with the casino's chief operating officer Michael Frawley confirming this.
Frawley told AP that the casino will aggressively pursue any other opportunities made possible by the advent of online gambling in New Jersey. The state legalised Internet gambling this year and the first online bets are expected by year's end.
Rational planned to make The Atlantic Club the first land casino in America to be fully owned by an online gambling company.
More details on the issue are now awaited.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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