New Jersey court rules against Pokerstars again
The Atlantic Club Casino, located in New Jersey, has been a significant opportunity for companies looking to enter the regulated American online gambling market. However, Pokerstars' efforts to acquire the casino have been unsuccessful.
The casino, which has been facing financial struggles in recent years, similar to many casinos in Eastern states, was up for sale. The initial offer by Pokerstars was made, but the casino remains on the market, with a higher price tag. The increase in price might be due to the acquisition of a license to offer online poker and casino games.
Pokerstars, a well-known name in the online gaming industry, has been trying to gain a foothold in the US online (and continental) gambling market. New Jersey, with its progressive gambling laws, presents a significant opportunity for Pokerstars.
However, a legal battle ensued between Pokerstars and the Atlantic Club Casino. An Appellate court in New Jersey sided with the casino in the dispute, ruling against Pokerstars' attempt to buy out the casino. The decision by the Appellate court upholds a lower court's decision to allow the casino to terminate the buy-out process.
The ruling could potentially impact Pokerstars' future attempts to enter the US online gambling market. Despite the setback, Pokerstars continues to seek opportunities to expand in the US market.
Meanwhile, the Atlantic Club Casino's financial struggles persist. Despite the legal victory, the casino remains up for sale. The online gaming license could potentially attract a wider range of potential buyers, increasing the value of the casino. The new license for online gaming could potentially increase the value of the casino, making it a more attractive prospect for potential buyers.
The company that now owns the Atlantic Club Casino is MGM Resorts International. The addition of the online gaming license to their portfolio could strengthen their position in the regulated American online gambling market.
In conclusion, while Pokerstars' attempt to acquire the Atlantic Club Casino was unsuccessful, the casino remains a significant opportunity for companies looking to enter the regulated American online gambling market. The ruling by the Appellate court could potentially impact Pokerstars' future attempts to enter the US online gambling market, but it does not diminish the potential of the market for other companies.
