AGA opposes PokerStars Atlantic City Casino purchase
AGA opposing purchase of Atalntic Coty Casino by PokerStars
In an unprecedented move by the American Gaming Association (AGA) which represents most of the largest casino operators, it has handed in a petition against the proposed purchase of the Atlantic Club Casino Hotel by online poker giant PokerStars.
The Association has never before opposed any such company in acquiring a casino property before or indeed been involved in a licensing procedure.
The petition cites the federal charges which were settled by PokerStars and its owning company The Rational Group, how the association believes this is relevant in opposing the acquisition is not clear, as the US DOJ rested all charges in the agreement with PokerStars after the purchase of another online poker site, Full Tilt Poker.
The only confirmation so far from the AGA is from spokesperson Holly Wetzel in confirming the association has opposed the potential purchase.
New Jersey has only recently passed legislation to allow online poker within the state, however the operational start is expected late 2013 or early in 2014. But many observers believe this is a move from the AGA protecting its Nevada members whom fear that not only the New Jersey online gambling law will damage their own business but with PokerStars the World’s largest poker operator involved would severely add more pain.
Eric Hollreiser Communications Director for PokerStars commented: “These are matters for expert regulators to determine, not self-interested partisans picking a public fight, We will continue to work positively with regulators in New Jersey and elsewhere whenever they review our qualifications.”
Mr. Hollreiser also pointed out that the company based in Isle of Man, holds licenses in France, Germany and other countries and was allowed to purchase the assets of its largest competitor in a settlement with the U.S. Department of Justice last year.
The Rational Group parent, agreed in January to buy the Atlantic Club, however the deal must be approved by the state’s Division of Gaming Enforcement and Casino Control Commission.
