Joined: Apr '11
Location: Romania
Age: 58 (M)
Posts: 2432
PokerStars' bid for the Atlantic Club Casino in New Jersey "expired without a new contract in place". The information is said to have come from "several people familiar with the matter", but as yet the situation is still unclear. Some have speculated that the deadline could be extended, but OPReport's Chris Grove has suggested that this could be "PokerStars waving the white flag". If it transpires that the deal is dead then it could serve as a major blow to PokerStars' ambitions of becoming the first online poker room in New Jersey.
Joined: Apr '11
Location: Romania
Age: 58 (M)
Posts: 2432
Many reports have focused on PokerStars' failure to get interim casino authorisation before April 26 as the reason for the breakdown. However, according to DiamondFlush, "that is not a legally valid reason to terminate the agreement". After reviewing various regulations, DiamondFlush has inferred the ACC may have other reasons for closing down the deal. Indeed, PokerStars' Eric Hollreiser has stated that it was their expectation that "the closing date would be extended". Moreover, he said PokerStars remain "entirely committed to resolving this situation and to [their] investment in New Jersey".
How this situation now develops is unclear, however, it does seem as though the deal may not be completely closed.
