PokerStars U.S. Casino Deal StallsReport Suggests PokerStars Deal Deadline To Buy New Jersey Casino Passed Last Friday |
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PokerStars attempt to re-enter the U.S. gambling market by buying the Atlantic Club Casino Hotel in New Jersey appear to have stalled for now.
According to a report in the Wall Street Journal the deal with the casino owners Colony Capital expired last Friday and no new deal has yet been put in place.
The company had agreed to buy the struggling casino but was waiting on the regulatory all clear in the form of an interim license. However the report claims people close to the deal have said the regulator could take until August to make a decision, throwing the deal into uncertainty.
The American Gaming Association, the leading lobby group for casinos in the U.S. is against the PokerStars move claiming the company operated a “criminal enterprise for many years” while PokerStars fought back claiming it held licenses in nine countries around the world.
PokerStars paid the U.S. Department of Justice $731 million last year to settle its legal predicament in the country. However it admitted no wrongdoing as part of the settlement.
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