The proposed deal for PokerStars to buy the Atlantic Club casino in Atlantic City, New Jersey, has expired without a new contract in place, reports the Wall Street Journal.
PokerStars agreed last year to purchase the struggling Atlantic Club with a view to using the land-based presence to establish an online gambling operation in New Jersey.
The purchase would meet the state requirements for online licensees to first have a land-based operation, while at the same time giving Atlantic City’s casino industry a much-needed shot in the arm.
A condition of the deal, reports the WSJ, was for PokerStars to obtain a temporary licence from New Jersey gaming regulators by Friday, April 26.
New Jersey’s Division of Gaming Enforcement has not approved the licence, however, indicating it could yet take many months to make a recommendation to the state Casino Control Commission.
Despite the deal apparently running out of time, the sale may still go through should PokerStars be granted a temporary licence in due course.
