Just a short time ago, we covered the story of PokerStars purchasing the struggling Atlantic Club in New Jersey. It would make PokerStars the first online poker company to own a land-based casino in the United States.
The company behind PokerStars, The Rational Group US Holdings, is looking to complete the purchase despite having recently come under fire by the American Gaming Association, who do not want the company to have the ability to purchase the property. The AGA came out stating the company is a ‘criminal enterprise’ and tried to stop the process by giving regulators in the state documents and briefs that supposedly supported their case.
Rational fired back at the AGA, stating that the briefs filed were only in the interest of the AGA, which is a group that represents several casinos and entertainment companies based in the US. The press release also stated that the AGA is trying to start economic warfare.
We have now learned that Rational Group has completed the interim of the application process and will now have to begin a 90-day review period. It was in late 2012 that the Rational Group decided to purchase the casino in the hopes of getting their presence back into the United States.
The group would be able to purchase the casino if they were approved by regulators in the state. Last week, the Division of Gaming Enforcement stated that Rational was finished with the application process and must now enter in to the 90-day review phase.
During the review period, both PokerStars and Rational will be evaluated to determine if they are suitable to operate the casino. The review process will last for 90 days and should end during the beginning of July. Once the review process is complete, the Casino Control Commission will then have a thirty day period in which to schedule a final hearing which will see the final decision made on application for the Rational Group.
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