Wynn close to $35 million Atalntic Club deal

Sources close to Atlantic Club Casino say that Steve Wynn is close to sealing a deal to acquire the struggling development for $35 million plus a share of any online business the now owner generates through the new regulations in New Jersey allowing for online gambling.

It was reported recently that Steve Wynn’s company had applied for a software license in the state and the deal with Atlantic Club would allow him to not only run the business but also supply the software making for more profits in the process.

It is still not clear who will be involved in the software for online gambling as the Wynn Interactive LLC does not have a patented gaming product so would have to tie up a deal with most likely a European online gaming company.

Should the deal go through which with those close to the deal believe will be announced very soon, it would mean the man who said he would never go back to Atlantic City re-enter the market so to get a piece of the online gambling pie. Strangely Nevada which is already operational with online poker, Wynn Interactive LLC has not applied for a license.

Previously Wynn did a deal with PokerStars to enter the US once legal again using his land based casinos and PokerStars offering the software. That deal fell through once PokerStars were indicted by the US DOJ.

No word has come out if PokerStars would again tie up with Steve Wynn for the deal in New Jersey but certainly the flamboyant casino boss will need to work with someone to get online gambling off the ground.