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Pokerstars Injuction Hurting Atlantic Club Casino

"Catastrophic" if restraining order is not lifted, Atlantic Club owners claim
Colony Capital, the owners of the troubled Atlantic Club in New Jersey, has responded to the temporary restraining order obtained by Pokerstars parent The Rational Group preventing them from seeking another buyer for the casino.
In what is becoming an increasingly bitter relationship, Rational was successful last week in obtaining a temporary restraining order as the two companies fought over whether the Pokerstars acquisition could go forward .
Rational has already handed over more than $11 million on the deal, which Colony is attempting to derail, citing time constraints on the original contract that were not met due to licensing delays.
On Monday Colony asked an Atlantic County court for an immediate cancellation of the temporary injunction prior to a court hearing scheduled for Friday May 17.
In its filing, Colony claimed that Pokerstars had failed to prove it would suffer irreparable harm should the injunction not be granted.
“[It] would be a catastrophic result for the Atlantic Club if the temporary restraining order is not vacated and the request for a preliminary injunction is not denied,” Colony’s attorneys wrote.
“Sellers would almost certainly miss the opportunity to pursue other options during the critical summer season and prior to the November 2013 launch of online gaming in New Jersey.”
Colony's attorneys also claim that Pokerstars wants to extend the time limit for it to become licensed "for many months," although there are serious doubts that the online poker company "...will ever obtain [regulatory approval] in New Jersey.”
Astonishingly, Atlantic Club's owners claim in their filing that they only became aware in March this year that Pokerstars officials “...were associated with serious criminal activities more extensive and unresolved than previously disclosed,” a reference to the Black Friday indictments on which Pokerstars spent hundreds of millions of dollars in achieving a settlement with US authorities and helping to resolve the subsequent Full Tilt Poker debacle.

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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.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

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.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

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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