PokerStars acquires Atlantic City Casino

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Bookmaker
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PokerStars acquires Atlantic City Casino

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A month ago, the Wall Street Journal first reported that Rational Group, the parent company of online poker giant PokerStar, intends to re-enter the U.S. market by acquiring New Jersey casinos. According to reports from Atlantic City, Rational Group has begun to move forward with the acquisition of Atlantic Club Casino. Eric Hollreiser, head of corporate communications at Rational Group, has confirmed that the company has purchased casinos from international resorts. Hollreiser said it has received a temporary casino license from New Jersey officials.

The Casino Management Committee will conduct an investigation and written report for up to 90 days. The committee held hearings and made a final decision over the next 30 days. The transaction will be closed after final approval by the New Jersey Casino Board of Governors. If approved, it would be the first online bookmaker to acquire a brick-and-mortar casino in Atlantic City.

Hollreiser said, "Once the Atlantic Club casino is acquired, it will secure 2,000 jobs in New Jersey and maintain the financial benefits of the casino. During the temporary licensing period, Atlantic Club Casino will operate normally under the current management. It will remain in place after the acquisition is completed. ”

PokerStars' early strategic focus on acquiring Atlantic Club Casino was to re-enter the U.S. online poker market, and last month New Jersey enacted a legislative approval bill allowing New Jersey Casino to offer online poker and casino games. The bill is awaiting governor's approval and implementation on the 2.4th.

Rational Group withdrew from the U.S. market on April 15, 2011, but the company settled its legal issues with the U.S. Department of Justice in August 2012. Rational Group paid $731 million to the U.S. government to get former poker star competitor Full Tilt Poker. As part of the agreement, Rational Group will pay all amounts owed by non-U.S. players. and re-operating around the world.
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