New Jersey authorities have confirmed that an attorney representing Rational has announced that Rational has revoked their interest in purchasing the New Jersey casino.
The decision is merely a formality as PokerStars has already found a decent way of getting a ticket to the soon opening New Jersey online poker market; the company revealed that they are in partnership with the Resorts Casino Hotel. Resorts is not only Atlantic City's oldest casino, but it's the first casino to have opened outside of the State of Nevada.
The Resorts Hotel Casino in Atlantic City
According to recent news, PokerStars is one of the 37 companies that have applied for a real money license in New Jersey. PokerStars have revealed their interest in the financially troubled Atlantic Club back in January this year. A month later, Chris Christie signed the state law governing gambling. PokerStars applied for the license in April, which they would get if they managed to acquire Resorts.
Two weeks later however, the casino backed out of the deal, which sparked a lawsuit from Rational, and the jury suspended the purchase. The casino reasoned that they were not familiar with the PokerStars' past. The court finally permitted the casino to back out of the deal.
The lawsuit is bound to continue though, as Rational has already transferred $11 million to Resorts out of the $15 million price of the casino, which they would like to regain. On the other hand, Atlantic Club states that they are still owed the remaining 4 million dollars.
The decision is merely a formality as PokerStars has already found a decent way of getting a ticket to the soon opening New Jersey online poker market; the company revealed that they are in partnership with the Resorts Casino Hotel. Resorts is not only Atlantic City's oldest casino, but it's the first casino to have opened outside of the State of Nevada.
The Resorts Hotel Casino in Atlantic City
Two weeks later however, the casino backed out of the deal, which sparked a lawsuit from Rational, and the jury suspended the purchase. The casino reasoned that they were not familiar with the PokerStars' past. The court finally permitted the casino to back out of the deal.
The lawsuit is bound to continue though, as Rational has already transferred $11 million to Resorts out of the $15 million price of the casino, which they would like to regain. On the other hand, Atlantic Club states that they are still owed the remaining 4 million dollars.
