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Pokerstars Files Permission To Buy US Casino

Parent company seeks regulator's permission to buy New Jersey's Atlantic Club...but no indication of the price.
A US subsidiary of Rational Group, the parent company behind Pokerstars and Full Tilt Poker, has applied to New Jersey gambling regulators for permission to buy the struggling Atlantic Club land casino in Atlantic City.
The application makes no mention of the consideration to be paid, although it expresses a willingness and capability to finance improvements should permission be granted, according to an Associated Press report.
If it is approved, the acquisition could give the internet gambling company a strong foothold in the United States at a time when individual states, and New Jersey in particular, are making moves towards the online gambling sector.
In New Jersey a bill that allows online gambling from Atlantic City casino-based servers has passed both Assembly and Senate and currently awaits Gov. Chris Christie's signature.
The Garden State has also staked out a position for itself in intrastate sports betting and is engaged in litigation against the major US sports leagues, which are defending the restrictive Professional and Amateur Sports Protection Act.
Pokerstars cleared its slate with the US Department of Justice in a $731 million settlement last year .
The company's deal with Atlantic Club owner Resorts International Holdings became public knowledge late last year, but details of the acquisition agreement have yet to be disclosed.

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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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