It has been announced that PokerStars owner the Rational Group has withdrawn its application for a casino license and in doing so have withdrawn from its fight to purchase the Atlantic Club from which it previously had an agreement to acquire.
Since losing two court battles over the Atlantic City casino where the company has lost $11 million and faces another $4 million in contract termination the Rational Group will now focus on its latest partnership with Resorts Casino Hotel as a supplier of software for online gambling.
However the company are still continuing to fight the loss it acquired in the dispute with the Atlantic Club but with the removal of its application as a casino owner and with its fresh application as a supplier now being considered it is clear that the company see the future in New Jersey as a software provider.
There is a long way to go for the company now applying for a service industry license with the New Jersey Division of Gaming Enforcement, certainly will be investigated thoroughly before state regulators give their approval. The hope is that with New Jersey not having any regulation on a “bad actor” clause like Nevada PokerStars will hopefully clear approval.
Rumours in New Jersey say that Atlantic Club still would have sold to PokerStars but at a greatly inflated price than agreed. What will now happen to the casino is unclear with now announcement made on any new owner.
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