Firm Wants to Buy or Build Casino in Atlantic City

The head of an investment group that wants to buy or build a casino in Atlantic City to get into online gambling in the U.S. says he'll announce a decision around Labor Day.

MidOil USA's Managing Director Vincent Crandon says he is in talks with multiple existing casinos about a sale, but he won't identify which casinos. MidOil is handling financing for the deal for the Australia-based online gambling firm 2UP Gaming,

He says that buying an operation that is already running would allow his group to start offering betting online on Nov. 23. That's the day it becomes legal in New Jersey.

Crandon says that if the company can't buy a casino, it will build from the ground up.

(Copyright 2013 by The Associated Press.  All Rights Reserved.)