Pokerstars is about to acquire Atlantic City Club

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Bookmaker
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Pokerstars is about to acquire Atlantic City Club

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According to the Wall Street Journal, Pokerstars is negotiating to acquire the Atlantic Club Casino Hotel for nearly $50 million. The acquisition clears the way for the world's largest online poker site to re-enter the U.S. market. 18 months ago, PokerStars was forced out of the U.S. market due to Black Friday.

The success of the acquisition agreement is said to depend on a passage in New Jersey's bill legalizing and regulating online poker. The bill, likely to pass by the end of this year, would allow local clubs to offer online gambling to New Jersey residents. As more U.S. states begin to regulate instate online poker, PokerStars can take advantage of New Jersey's license as a launchpad for gradually building a player base in U.S. states.

In August, PokerStars and the U.S. Department of Justice settled the Black Friday indictment and acquired the assets of Full Tilt Poker. In the following weeks, the online poker giant paid what non-US players owed and relaunched full-speed poker.

If the acquisition is successful, the club will not be the first brick-and-mortar club operated by PokerStar. In October, PokerStars invested in London's Hippodrome club. PokerStars Macau has also been in operation since 2008.

Formerly known as the Atlantic City Club Hilton, the Atlantic City Club Casino Hotel first opened in 1980 under the Golden Nugget brand.
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