Atlantic Club Fights Appeal in PokerStars Case
You made your bed, now lie in it.That’s the legal position an Atlantic City casino is taking toward a failed suitor whose deal to buy The Atlantic Club fell apart.
The Atlantic Club canceled a deal for the PokerStars web site to buy the casino when the online giant couldn’t get preliminary ownership approval from New Jersey casino regulators in time.
A judge upheld the casino’s action, and PokerStars is appealing that ruling. PokerStars’ parent company, The Rational Group, says the judge made several errors and that its $15 million purchase deal should be reinstated.
In its response this week, The Atlantic Club says PokerStars entered the deal with “its eyes wide open” and knew that either side could have killed the deal by a certain date.
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