From ABC News After paying an $11 million advance to a struggling Atlantic City casino it intended to buy, the parent company of the world’s largest online poker website was left with nothing for its troubles Friday when a judge ruled the casino had the right to scrap the deal. Superior Court Judge Raymond Batten said The Atlantic Club Casino Hotel could terminate the contract it signed with The Rational Group, the British parent company of PokerStars, when the company failed to get New Jersey’s preliminary approval by April 26 to own a casino. The judge said the contract clearly…

From Wall Street Journal A deal that would have given online-gambling giant PokerStars a chance to re-enter the U.S. market turned into a legal battle Monday as a judge agreed to temporarily block investment firm Colony Capital LLC’s attempt to terminate a casino-sale agreement with PokerStars. A New Jersey Superior Court judge issued a temporary restraining order that prevents Colony from negotiating with other parties to sell its Atlantic Club casino in Atlantic City, N.J., for 10 days. A hearing is set for May 17, when the judge will consider a lengthier restraining order. PokerStars had agreed last fall to…

The British parent company of the PokerStars website says it still wants to buy an Atlantic City casino, even though a deal to obtain it fell through on Wednesday. The Rational Group said Thursday night it wants to try to save its deal to purchase The Atlantic Club Casino Hotel. The casino said Wednesday the purchase deal was dead, but declined to say why. Eric Hollreiser, a spokesman for the Isle Of Man-based company, said it had expected the closing deadline for the sale to be extended. “Several days ago the Rational Group received a purported notice of termination of…

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…