PokerStars in advance talks for buying an Atlantic City casino

At this moment, PokersStars are in talks with one of the casinos located in Atlantic City for making. This move can make an impact for the online poker firm, as it would help it to regain its popularity amongst online players. The company is also going to benefit, in case gambling will get legalized in New Jersey.

It is believed that PokerStars is in discussions with Colony Capital, which is an investment firm, for buying a struggling casino, Atlantic Club Casino.

According to several sources, who are involved with the online poker room, the price of the casino has already been negotiated and it is coming less than USD 50 million to the firm. However, the sources also said that this deal might be weeks from getting the final sign and there are still chances that it might fail in between.

In case this deal moves towards legitimacy, there are high chances of a major change in the scenario for PokerStars. During the month of August, the company had agreed for paying for $731-million settlement, which was with the Justice Department. The Justice Department had accused them of doing illegal gambling, bank fraud and money laundering. Even though they did agree to the settlement, they didn’t accept any wrongdoings. Again, Isai Scheinberg, who is an Israeli entrepreneur and the founder of the company, is still under indictment for criminal charges related to this accusation.

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