2UP Gaming agree price for Atlantic City Casino

[corner-ad id=3]2UP Gaming has claimed that it has agreed in principal the purchase of a Casino in Atlantic City to move forward with their plans to enter the States online gambling sector.

As previously reported by the iGaming Post back in July (see report here) the UK based online gambling company has received major funding of some $330 million by un-named Asian backers to be able to seriously move into the fledgling online gambling sector in the US.

Vince Crandon, managing director of New York-based MidOil, an investment firm partnered with 2UP Gaming has said that the company has agreed the purchase of a casino on the boardwalk in Atlantic City but refused to name who it was until the deal was full approved by all involved investors.

However with only two casinos on the boardwalk that have not yet partnered up to enter the online gambling business, they are The Revel and the Atlantic Club Casino. There is another casino, the Trump Plaza Hotel and Casino that is looking for a buyer after the proposed collapse of a deal worth $20 million fell through earlier this year.

Observers believe the most likely candidate is the Atlantic Club Casino which was involved in a well publicised deal with PokerStars before that deal also falling through and then the court battle that followed. An insider in Atlantic City that spoke to the iGaming Post says that it is possible the Atlantic Club Casino was approached before the deal was finalised with PokerStars and made a higher offer for the Casino.

This is not confirmed however by any of the parties, but out of the three candidates the Atlantic Club Casino would be the easiest to manage along with the ability to reduce costs there without major overhaul and all at the right price.

According to Vince Crandon the company will announce the deal once the major investors in 2UP Gaming have met with the casino and agreed on the final price.