- The New Jersey regulator confirmed late last week that it had received a letter from Rational indicating that the company was withdrawing its petition to purchase the casino.
- PokerStars now has a partnership with Resorts for online gaming in NJ.
- Rational Group will pursue the $11m it already paid for the casino.
PokerStars parent company Rational Group has formally abandoned its pursuit to purchase the Atlantic Club Casino Hotel. 3k5o1t
The New Jersey regulator confirmed late last week that it had received a letter from a lawyer representing Rational indicating that the company was withdrawing its petition. A spokesperson for PokerStars later confirmed to the press that it was no longer pursing the acquisition.
The decision is more a formality, given that the group has found another way into the New Jersey online gaming market: one of 37 to have applied for a license to be involved in real-money online gaming in the state.
Pokerstars had previously filed an interim license application; its approval was a condition of the sale.
However, just two weeks later, the Atlantic Club allowed the Club to walk away from its deal.
This litigation will continue, the press of Atlantic City reported. Eleven million dollars of a total $15m was already paid to the casino; Rational Group wants this back. The Atlantic Club contends that it is still owed the remaining $4m.