New Jersey Internet Gambling: PokerStars Officially Ends Pursuit Of Atlantic City Casino BuyCompany To Focus On Partnership With Another Casino Firm |
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PokerStars has officially ended its pursuit of buying the Atlantic Club Casino Hotel in New Jersey, according to reports. The firm is now looking at a partnership with Resorts Casino Hotel to get in on the upcoming Internet gambling industry in the Garden State.
The New Jersey Division of Gaming Enforcement reportedly announced PokerStars’ decision not to continue to fight for the right to buy the Atlantic Club.
That plan fell through due to a business dispute. Last year, PokerStars settled with the United States government in connection with the Black Friday indictments in April of 2011. The firm didn’t admit to any wrongdoing in the matter.
The American Gaming Association, the commercial casino industry’s top lobbying group on Capitol Hill, played a key role in blocking the acquisition. The AGA argued that PokerStars owning a casino in Atlantic City would be harmful to the industry at large.
Software providers like PokerStars would still need to be approved by the state, but the scrutiny for them likely would not be as tough as those for firms holding a license to offer brick-and-mortar gambling. For an offshore-based Internet poker firm like PokerStars, buying a casino would be a very intense licensing process. New Jersey is known for being tough.
Internet gambling is expected to kick off, with at least one firm offering games, on Nov. 26.
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