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Pokerstars Injuction Hurting Atlantic Club Casino
Tuesday May 14, 2013 : ATLANTIC CLUB SEEKS TO SET ASIDE POKERSTARS INJUNCTION
"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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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