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Pokerstars Still Interested in Buying Land Casino

Friday May 3, 2013 :  WE'RE STILL INTERESTED IN BUYING LAND CASINO, SAYS POKERSTARS PARENT (Update)
 
Rational Group spokesman explains expiry of agreement on Atlantic Club casino
 
The British parent company of PokerStars says it still wants to buy an Atlantic City casino, even though a deal to obtain Atlantic Club fell through time expired on Wednesday .
 
A company spokesman for The Rational Group told the Associated Press news agency late Thursday that the company wants to salvage its deal to purchase The Atlantic Club Casino Hotel.
 
Eric Hollreiser, a spokesman for the Isle Of Man-based company, said Rational had expected the closing deadline for the sale to be extended.
 
"Several days ago the Rational Group received a purported notice of termination of this agreement from the current owners of the Atlantic Club," he said in a statement to Associated Press.
 
"It was the Rational Group's expectation and understanding, based on the ongoing dealings between the parties, that the closing date would be extended to allow the transaction to be completed. The Rational Group remains entirely committed to resolving this situation and to our investment in New Jersey."
 
Michael Frawley, the chief operating officer for financially troubled Atlantic Club, did not respond to messages seeking comment Thursday night.
 
The casino is owned by Los Angeles-based Colony Capital, which reached a deal with The Rational Group last December to sell The Atlantic Club.
 
New Jersey casino regulators have been examining the Rational Group's application to buy a casino, but no decision was imminent.
 
The land casino trade body, the American Gaming Association has attempted to intervene in the licensing process in order to derail the deal, and suspicions have been voiced that land casino companies may also be working behind the scenes to keep Rational out of the US market, fearing competition in the online environment.

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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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