PokerStars Calls Off Purchase of Atlantic Club Casino

Overnight Gambling911.com reported that an initial contract between PokerStars and the Atlantic Club Casino had expired.  On Wednesday it was confirmed that Stars has backed out of the deal to purchase the financially strapped Atlantic City-based casino.

Atlantic Club CEO Michael Frawley issued a statement confirming that the sale was “terminated in accordance with its terms.”

PokerStars parent company, The Rational Group, declined to give a reason as to why they were pulling the plug on the deal.

Regulators in New Jersey insisted that the decision was between both parties and that the state in no way discouraged PokerStars from acquiring the property.

- Aaron Goldstein, Gambling911.com