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Pokerstars To Invest 10 Million in AC Poker Room

Thursday October 3,2013 : POKERSTARS PLANS BIG INVESTMENT IN ATLANTIC CITY CASINO PARTNER
 
Work on a $10 million poker room to begin immediately licence is awarded.
 
The first fruits of the Pokerstars Atlantic City partnership with Resorts Casino Hotel  emerged Wednesday with an announcement that work on a $10 million poker room is to begin as soon as Pokerstars is awarded a New Jersey online gambling license.
 
Company spokesman William J. Pascrell III told The Press of Atlantic City: “As soon as the license is in hand, they’re ready to start building.”
 
The new poker room is seen as a way of drawing online gamblers to Resorts to play in live poker tournaments, which in turn generate interest in poker online. Resorts hasn’t had live poker since early 2010.
 
“PokerStars is committed to investing significant resources to put in a brand new poker room at Resorts Casino Hotel. In addition to the poker room, they are committed to driving traffic to Atlantic City through their marketing,” Pascrell said.
 
This and other Pokerstars plans are set to generate "hundreds" of new jobs in Atlantic City, said Pascrell, but he emphasised that plans are conditional on Pokerstars achieving licensing status for the coming implementation of internet gambling in Atlantic City - the Isle of Man company clearly learned hard lessons from the Atlantic Club debacle that cost it so dearly .
 
If Pokerstars is awarded a licence, it will immediately hire 50 Americans to install the systems needed to launch Internet gambling in Atlantic City, Pascrell revealed, adding that the company wants to set up its North American headquarters in New Jersey, creating a further 150 jobs by Q2-2014.
 
After that, another 200 jobs be end 2014 are envisaged, dependent on the success of Internet gambling and whether multistate compacts are formed to turn online wagering into a nationwide system, Pascrell said.
 
The PokerStars.com and PokerStars.eu websites are operated overseas under licenses from the Isle of Man and Malta governments, respectively. Pokerstars also holds separate government licenses in Belgium, Denmark, Estonia, France, Italy, Spain and Germany, the company said.
 
Pascrell noted that Pokerstars remains interested in acquiring an Atlantic City casino, but that the Isle of Man company is not yet in serious negotiations to buy a casino and has not set its sights on any particular property.
 
“They’re willing to talk to all of the various casinos that are for sale,” Pascrell said.
 
The opening of a Pokerstars poker room at Resorts could give a useful boost to the land casino's fortunes. Resorts saw its gambling revenue increase nearly 12 percent in August and 6 percent in July compared to the same period in 2012, reports the Press of Atlantic City. Overall, the number of customer visits to Resorts rose 25 percent May through August.

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Gambling News :

More Computers Smashed in Online Gambling Raids - More computers seized in police online gambling raids were trashed Monday when the Serdang police destroyed 1,312 machines to keep them out of circulation.

2017 Aussie Millions Event 1 - The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.

Swiss Reject idea to Block Gambling Websites - The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.

Growth Ahead For Online Gambling - Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.

New Qubit software For SkyBetting - #qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.

Slotfather II Slot Launching - #betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..

Massachusetts Online Lottery Bill - Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.

Italy Doing Well With Online Sports betting - The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.

Michigan To Reintroduce Online Gambling Bill - #Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.

MGM Buys DC office building For lobbying team - #MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.

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