Rational Group exits New Jersey deal

Rational Group exits New Jersey deal

Thursday, 2 May 2013

The proposed agreement that was to see Rational Group US Holdings, which is the firm behind leading online poker site PokerStars, purchase the struggling land-based Atlantic Club Casino and Hotel in Atlantic City has been reportedly terminated for, so far, unannounced reasons.

The online casino operator completed its application for a New Jersey state gaming license only two weeks ago and the purchase was being seen as a way to revitalise the fortunes of the Atlantic Club Casino and Hotel while additionally opening up the way for PokerStars to offer its iGaming services to American players.

However, all of this is now in doubt with The Wall Street Journal newspaper reporting that the deal has ‘expired without a new contract in place’.

There has been little additional information made available at this time with the Atlantic City venue’s Chief Operating Officer, Michael Frawley, issuing only a brief statement yesterday confirming that the deal was dead.

This information seems to confirm what OPReport's Chris Grove suggested when the news broke yesterday that this could be ‘PokerStars waving the white flag’.

While the Atlantic Club Casino and Hotel has made it clear that it ‘remains committed to the aggressive pursuit of the opportunities presented by online gambling’, it is now unclear what Rational Group’s next move will be in the United States.

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Tags: Rational Group, PokerStars, Atlantic Club Casino and Hotel, New Jersey, Atlantic City