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PokerStars One Step Closer to Buying Atlantic City Casino

Written by:

Associated Press

Published on:

Jan/15/2013

PokerStars One Step Closer to Buying Atlantic City Casino

ATLANTIC CITY, New Jersey — (Associated Press) - An Internet gambling company wants to buy Atlantic City's Atlantic Club, and says it's ready to pump money into the brick-and-mortar casino to help prop up the seaside gambling resort.

Rational Group US Holdings, the parent company of PokerStars and Full Tilt Poker, is asking New Jersey casino regulators for permission to buy the Atlantic Club for an undisclosed amount.

The proposed deal will be scrutinized closely.

New Jersey lawmakers have passed a bill that would authorize Internet gambling, but Gov. Chris Christie has yet to act on it.

Last year, PokerStars paid $547 million to settle money laundering charges from a U.S. government crackdown on illegal Internet gambling. It admitted no wrongdoing, and is allowed to operate in U.S. states where online gambling is legal.

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