Pokerstars Owners Plan to Buy Atlantic City CasinoPublished January 17, 2013 by OCR Editor
From online casinos to brick-and-mortar casinos.. a natural step?
An online gambling giant has made a bid to buy one of the oldest brick-and-mortar casinos in Atlantic City, New Jersey. Rational Group US Holdings, parent company of Pokerstars and Full Tilt, has submitted its proposal to buy the Atlantic Club Casino.
This comes after a couple of major changes in New Jersey legislation that took place last year: First they have opened the doors to offshore gaming firms to apply for NJ casino licenses, and Rational Group are registered in the Isle of Man, close to the UK. Second, last December, New Jersey lawmakers approved a bill to allow online gambling in the state.
What the Rational Group proposes to do is rebrand The Atlantic Club Casino, one of the oldest in Atlantic City, as it did to the Hippodrome Casino in London, UK. The Atlantic Club Casino ranked 10th in the 2012 list of Casinos with the Highest Revenues, and could be revived to be a major seaside attraction. All that remains now is for the New Jersey Casino Control Commission to approve the proposal.
Online Gambling to Traditional Gambling?
If Rational Holdings were given a green light, this deal would mark the first purchase of an Atlantic City casino by an Internet gambling company.
An unexpected move, some may say - from online casinos to traditional face-to-face casinos, but a company the size of Rational, can probably afford to take the gamble.