New Jersey Court Rules in Favour of Atlantic Club in PokerStars Deal
Atlantic County Superior Court ruled Friday in favour of the Atlantic Club Casino who terminated its deal with PokerStars. PokerStars has already paid $11 million of the $50 million purchase price and Atlantic Club are demanding an additional $4 million as a termination fee because the deal was not concluded by the mutually agreed upon date.
The casino deal was entered into by PokerStars as a means of gaining entry into New Jersey’s newly internet gambling space.
Although PokerStars have released a statement saying that they are reviewing the court ruling, it appears as though reality is starting to kick in that they are not welcome.
Other states that will be offering gaming are imposing strict bad actor legislation which is designed to keep companies like PokerStars out of their states and the US. The Atlantic Club deal was a chance for the company to lay ground in the US once again in a legal manner. With PokerStars out of the equation, the playing field will be more level for other operators entering the online space.