Atlantic Club hoping NJ internet gaming bill to get the nod from

With the deadline coming ever so near for Governor Christie for signing the bill, which will legalize online gambling in New Jersey, there is a sense of urgency seen in one of the smallest casino at the Shore, Atlantic Club.

Rational Group US Holdings, who is currently the parent company of Full Tilt Poker and PokerStars as well as the prospective buyers of the Atlantic Club, are planning for establishing a headquarter here. It is going to be the first case of land-based casino in US merging with an internet gaming company. However, the purchase, which is for an undisclosed amount and still pending for approval from the state regulators, is pretty much hinging on the internet gaming bill becoming a law in the state.

Still, there is no confirmation on what will be the eventual outcome of the bill on the deadline day, as one of the spokesmen from Gov. Christie’s office, Michael Drewniak, said to the press, “There is nothing new to tell you, before we give the final verdict on the bill.”

People involved in this negotiation believe that in case Christie vetoes or he does not give proper action on time, the deal between Rational Group and Atlantic Club will encounter a torpedo. This might make the buyers pack their bags and move back, whereas the fate of the casino and more than 1,700 employees will be uncertain.

According to gaming analysts, such a torpedo will also redirect other online companies out of Atlantic City, which is already investment-starved and move to states like Nevada, where intrastate online gambling has been legalized already.

Eric Hollreiser, who is the spokesman for the Rational Group, said during an interview, “We believe that the future of gambling industry is not just to be limited to offshore gaming. It is a mix of both. And our coalition with Atlantic City is to make sure that we offer the mix. However, the bill is necessary for that to happen.”

Tweet