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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 :
Wanajump Launches -
#Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.
Coral Launches player proposition betting product -
Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.
Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
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