According to a Wall Street Journal report PokerStars is in negotiations to purchase the Atlantic Club Casino Hotel for nearly $50 million. The purchase could pave the way for the world’s largest online poker site to re-enter the U.S. market just 18 months after Black Friday forced their exit.
The deal is reportedly contingent on the passage of a bill that would legalize and regulate online poker in the state of New Jersey. The bill could pass by year’s end and would allow land-based casinos in the state to offer online gaming to New Jersey residents. As more and more states begin to regulate instra-state online poker, PokerStars could use the New Jersey license as a launching pad to rebuild their player base in the United States one state at a time.
In August PokerStars settled the Black Friday charges with the Department of Justice and acquired the Full Tilt Poker assets. In the following weeks the online poker giant repaid all non-U.S. players and relaunched Full Tilt Poker.
Should the purchase be completed the property would not be the first brick and mortar property run by PokerStars. In October the company invested in the Hippodrome Casino in London and PokerStars Macau has been in operation since 2008.
The Atlantic Club Casino Hotel was formerly the Atlantic City Hilton Casino and originally opened in 1980 under the Golden Nugget brand name.
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