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Pokerstars says Atlantic Club got greedy

Pokerstars says Atlantic Club got greedy

The world's biggest online poker website is ready to offer online poker in other states of the USA and will continue to pursue its original plan of acquiring a license in New Jersey. Pokerstars' parent company, The Rational Group, has laid blame the former owners of the Atlantic Club for the shutdown of the casino.

The Rational group had signed a deal with the Atlantic Club for $15 million, but the owners decided to cancel the deal in April when Pokerstars failed to secure a state license. The casino has since declared bankruptcy and was sold two weeks ago to two competitor casinos which plan to close it this month.

In a company blog published on Tuesday, The Rational group states "It's always sad when hardworking people lose their jobs, especially during the holiday season. This is particularly sad, though, because it simply didn't have to happen. At this time last year, PokerStars reached an agreement that would secure a new future for the casino, save the jobs of 1,800 employees and inject new blood, new technology and new finances into the Atlantic City casino economy".

Even before New Jersey finalized the approval of internet gambling within state borders, The Rational Group had begun advancing funds to the struggling casino to help it survive the winter months. The company advanced a total of $11 million out of the $15 million purchase price.

Atlantic Club's COO, Michael Frawley, declined to comment on the situation.