From NJ.com
PokerStars, the online-gambling giant with its sights set on buying the Atlantic Club casino, has apparently missed its deadline to complete the deal, according to a report by The Wall Street Journal today.
Based in the Isle of Man, PokerStars and several of its owners have been in talks since the fall to buy the casino from a California investment firm called Colony Capital. The deal is considered crucial to jump-starting New Jersey’s new online-gambling market and reviving Atlantic City.
The Wall Street Journal, citing anonymous sources, said one of the conditions on the deal was for PokerStars to obtain a temporary license from New Jersey gaming regulators by last Friday.
But the state Division of Gaming Enforcement has not given the green light, and has indicated it may take until mid-summer to make a recommendation to the state Casino Control Commission, which will decide if the PokerStars companies get a license.
Eric Hollreiser, a spokesman for PokerStars, told The Star-Ledger today: “Given the confidential nature of our agreement, it would not be appropriate for me to comment.”
Spokespeople for Colony Capital and the state Division of Gaming Enforcement did not respond to requests for comment about the report.
State Sen. Raymond Lesniak (D-Union), a supporter of the PokerStars deal, said it may still be in play.
