Poker Stars’ Atlantic Club Casino Hotel planned purchase
After its alleged plan to re-enter the gambling business industry, Poker Stars is reported to pursue Atlantic Club Casino Hotel as its new base. The poker room is recently found to be involved in several negotiations and transactions with the New Jersey-based casino hotel. According to inside sources, the decision of Poker Stars was stimulated by the planned passing of New Jersey’s legislation that will allow intrastate online gambling activities in Atlantic City. If this happens, Poker Stars believes that this will be its smooth entry way to the American industry once again.
After its recent controversy, Poker Stars is rising up once again through a $731 million settlement with the Department of Justice. The said amount was incurred after its alleged harassment case with Full Tilt Poker. In addition, Poker Stars promised to cover the payments to the poker room’s non-US players. Amidst the severity of the controversy, the clause for Poker Stars still allows its operations through legal and well-regulated gambling establishments. To further clarify the status of the company, the clause doesn’t affect its founder, Isai Scheinberg, whose son is currently the one manning Poker Stars.
Whilst the company has become complacent on its decision to penetrate the New Jersey intrastate gambling market, critics and analysts opine that Poker Stars is yet to face a number of legalities and regulatory obstacles, let alone its undisclosed case regarding the final decision of Chris Christie. Therefore, the planned purchase of Atlantic Casino might just be a bad move that will lead to black and white discrepancies for Poker Stars.
On the other hand, a New Jersey bill that will allow players ad gamblers of the state to gamble online in casinos based in Atlantic City is yet to be legalized. The bill, which will also take effect to other parts of the country such as Nevada is deemed to be the right tool to increase the financial numbers of Atlantic City as well as many other places. Although Poker Stars has already applied for the said bill, a license form authorities of the local area is still needed for it to operate fully in the said state.
Meanwhile, while the verdict on the bill is still uncertain, the New Jersey gambling industry is said to continually grow its losses as competition with nearby states has led to a decrease in the number of visitors and loyal players of Atlantic City. In addition, the number is also found to have dwindled because of the recent destruction caused by the hurricanes which hit the state within this year, leading to broken infrastructures and damaged establishments.
Online gambling analysts are now on the lookout whether the company will prove them wrong or right. What a lot of people are still hoping for, especially their loyal customers, is Poker Stars development and improvement for the better if not for the best. Nevertheless, it always stars with something and Poker Stars is willing to take a bet on a decision as unsure as this one.