Online PokerStars Atlantic Club Deal Axed

Published Thursday, May 02, 2013 -
Online PokerStars Atlantic Club Deal Axed

The United States has finally launched a real money legal poker room on the internet in the gambling state of Nevada. The rest of the American states that have brought legal gambling to their jurisdictions aren’t up and running as yet but be assured they are not far behind.

One firm that has dodged a few bullets so far in the US gambling market is PokerStars which was named in the April 2011 crackdown on internet poker by the Department of Justice but soon was exonerated with a massive fine and a go ahead to buy the defunct remains of the Full Tilt Poker brand. The company then faulted itself into the legal New Jersey internet betting market by announcing it would purchase a brick and mortar casino in Atlantic City to set up it shop on US soil once again.

This move was critically panned by the gambling officials in Nevada which slammed PokerStars as bad actors that should not be allowed access to the US market.

It looks like the bad press has in some way affected the outcome of PokerStars’ American invasion plans. It was announced that the deal the online gambling firm cut to purchase the Atlantic City casino has been scrapped. Atlantic Club Casino Hotel confirmed that the purchase agreement with Rational Group US Holdings the U.K. parent firm which owns PokerStars has been cancelled.

The Atlantic Club’s CEO, Michael Frawley, made the comment revealing, "The Atlantic Club remains committed to the aggressive pursuit of the opportunities presented by online gaming." The loss of the arrangement dashed the hopes of many who work for the casino who may face layoffs due to a lack of revenues.

The deal has had some regulatory hurdles to overcome, with PokerStars recent dealings with the Department of Justice and its payment of the $547 million fine and $184 million to players connected to offshore accounts there was never the less a great deal of suspicion surrounding the Rational Group.

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