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Pokerstars has Big Plans For Atlantic City Casinos

Friday March 22,2013 : THE RATIONAL GROUP HAS BIG PLANS FOR NEW JERSEY, SAYS ATLANTIC CLUB EXEC
 
Pokerstars parent could be interested in other New Jersey gambling properties hints chief operating officer
 
In an interview on the public service broadcaster NJTVonline this week, the chief operating officer of New Jersey's Atlantic Club land casino, Michael Frawley, talked about the application by Pokerstars parent The Rational Group to buy the troubled Atlantic City operation, giving an insight into the considerable investment that the Isle of Man online poker group was ready to make, and hinting that it may be interested in further buys.
 
And he suggested that in trying to intervene in the deal, Caesars Entertainment via the American Gaming Association may have an “agenda”, and urged the authorities to take a look “at what ulterior motive could be behind it.”
 
Frawley explained to NJTV managing editor Mike Schneider that the Rational Group was ready to invest but first needed an approval on its application to the New Jersey regulators, a process that Frawley appeared to feel was moving along satisfactorily.
 
Once the formalities were out of the way, Frawley said he expected that the transformation of Atlantic Club would begin...and it would be an exercise in quality.
 
"The one thing that they've [Rational Group] been great about is the plans that they’re going to make to make the property representative of their brand,” he said, adding that without the introduction of New Jersey's online gambling laws and the deal these made possible with the Rational Group, the Atlantic Club would have faced an unprofitable future.
 
“With PokerStars and Internet gaming, and the capital investment they’re prepared to make in the property, we expect to be more than profitable,” Frawley said, adding that PokerStars is ready to make a $20 million investment in the first year alone.
 
Frawley calculated that over the next five years, the investment will total over $40 million on just Atlantic Club, and he hinted:
 
“I know that there are plans to invest in other places in the state. We are also going to have to build a data center, which is a very significant property investment.”
 
Frawley stressed that in the online gambling activities that the Atlantic Club would seek to host, measures will be in place to restrict underage or problem gamblers by creating an exclusion list. He added that PokerStars is prepared to contribute a significant sum to a fund to address problem gamers.
 
“I think there needs to be a little bit more education on it [internet poker] in a lot of ways before people make a snap judgment,” said Frawley.
 
In a separate interview on the program, lobbyist Bill Pascrell III said he found the timeline of Caesars’ actions and the progress of the Internet gaming law to be more than coincidental.
 
“Isn’t it ironic that on Feb. 8 of this year while the bill was sitting on the governor’s desk, Caesars approached the PokerStars headquarters and asked them to buy the Rio for $400 million … because they knew that they control Nevada, [but] they don’t control New Jersey,” said Pascrell.
 
View the interview here: http://www.njtvonline.org/njtoday/video/atlantic-club-coo-anticipates-bright-future-with-pokerstars/

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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