PokerStars’ Appeal to Buy Atlantic City Casino Denied
A New Jersey appellate court has rejected a bid by the world's largest online poker website to regain the right to buy an Atlantic City casino.
In a decision made public Monday night, the court sided with the Atlantic Club in its battle with PokerStars. The ruling upheld a lower court ruling issued last month.
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.
PokerStars' parent company, The Rational Group, claimed the judge made several errors and that its $15 million purchase deal should be reinstated.
Michael Frawley, the Atlantic Club's chief operating officer, said the casino was "obviously very pleased" with the appellate court ruling.
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