New Jersey Court Turned Down PokerStars Appeal

Atlantic Club CasinoPokerStars bid in which it was seeking to buy an Atlantic City Casino has been rejected by Appellate court in New Jersey on Monday. Upholding a lower court’s decision in a battle between PokerStars and Atlantic City Casino, the court has favored the Casino. This decision has directly affected the online poker giant’s plans to operate on American soil after the Black Friday incident. Earlier, we have informed our readers about PokerStars plans to start operating from New Jersey from November onwards and targeting American online poker players again.

The deal went in vein between online poker room and Atlantic City Casino as PokerStars was unable to get Preliminary ownership approval from New Jersey Casino Regulators. The Poker room was supposed to buy the casino at a price of $15 million, which is an unbelievable low prize for any established Casino. The parent company of PokerStars, The Rational Group has claimed that judge’s decision is based on several errors and it should give them the rights to buy the casino as it has already paid $11 million to the Casino last year during the winters when the casino was going through a tough financial time.

The Atlantic Club’s Chief Operating Officer, Michael Frawley said, “The Casino was obviously very pleased with the appellate court ruling”. He added, “Our intentions have and will continued to be focused on the aggressive pursuit of New Jersey’s emerging online gaming opportunities”.

The spokesperson for Rational Group has not made any official statement regarding court’s decision.

In December last year both the parties have inked a deal according to which PokerStars will get the possession of Atlantic Club Casino after paying $15 million. After paying $11 million last year, the Rational Group had to pay $4 million more to acquire the casino. But this decision has come as a big set-back to the PokerStars.

PokerStars plans to start operating from American soil has get delayed once again and the poker online has to come up with some more strategy if it wants to re-enter American market.