Wayne Parry, Associated Press
ATLANTIC CITY, N.J. (AP) – A bid by the world’s largest online poker website to buy an Atlantic City casino has gone bust.
The Atlantic Club Casino Hotel announced Wednesday that a purchase agreement with the British parent company of PokerStars has been terminated. Had the deal gone through, The Atlantic Club would have been the first casino in the United States to be wholly owned by an Internet gambling company.
Chief Operating Officer Michael Frawley issued a brief statement Wednesday morning saying the deal is off, but would not say why. He and a spokeswoman for the casino hotel declined to answer questions, but said the struggling casino will remain open. The purchase by The Rational Group, PokerStars’ parent company, had widely been seen as perhaps the last chance to save The Atlantic Club.
New Jersey legalized Internet gambling this year so long as bets are taken within the state’s borders and do not involve sports betting; the state is fighting a separate legal battle to try to enact that.
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