PokerStars Attempting To Regain Foothold in US
Just a mere month after saving Full Tilt poker from numerous Colossal obstructions, PokerStars is in the news again. The news now is that the online poker giant is jabbering back and forth with Atlantic Club casino. If correct, then PokerStars could be back in the United States in no time at all.
Less than two years ago, PokerStars, the biggest online poker company in the world, got the boot from Uncle Sam. The U.S. government sued the company for operating an illegal gambling business, shut down its U.S.-facing web site, and indicted PokerStars' founder. Competition was nothing shy of overjoyed. Now, the Isle of Man-based company is reportedly on the verge of striking a deal with the Colony Capital LLC investment firm, owners of the struggling Atlantic Club. According to one of the sources of the Wall Street Journal, the negotiated purchase price could be less than $50 million.
However, even if the two companies do strike a deal it would still need to be approved by the New Jersey gaming regulators, who may be influenced by PokerStars' competitors who will unquestionably contest the effort. iGaming says that, "PokerStars' acquisition of Atlantic Club Casino would appear to be a move to give the company a foothold in any future intra-state online poker market in New Jersey, with applicants for online casino licenses likely to require a land-based presence."