January 16, 2013 -
The parent of PokerStars and Full Tilt Poker remains interested in purchasing the struggling Atlantic Club Casino Hotel and is willing to invest in the property to improve its performance and help attract more visitors to Atlantic City, according to published reports.
Subsequent to reaching a purchase agreement late last year, Rational Group U.S. Holdings has filed an application with New Jersey regulators seeking permission to purchase the property.
From an Associated Press report on Rational Group U.S. Holdings’ intentions:
“Rational US is a willing and enthusiastic prospective purchaser, and it intends to improve the financial viability of the property, and therefore the offerings available in Atlantic City,” the firm wrote in its application to New Jersey casino regulators. “The purchase will improve the overall economic and competitive conditions of Atlantic City and the state of New Jersey, as the current owner of the company has, for a considerable period of time, been marketing the property for sale.”
It remains to be seen what impact, if any, Rational’s pursuit of the Atlantic Club will have on intrastate online gaming legislation awaiting action from New Jersey Gov. Chris Christie. Christie previously vetoed similar legislation, but many have speculated the state’s budget challenges – and Atlantic City’s continuing woes – might change his mind this time around.
It is also unclear whether state gaming regulators will license the owner of PokerStars and Full Tilt Poker in light of previous action taken against the sites by the U.S. Department of Justice.
A number of area poker pros previously shared their thoughts with PhillyGambles.com on the potential purchase of the Atlantic Club by Rational U.S. The consensus? They’re all in.
Photo: Atlantic Club Facebook