Following the news last week that time had run out for PokerStars to purchase the Atlantic Club casino in Atlantic City, the deal was granted new life on Monday when a judge agreed to temporarily block investment firm Colony Capital LLC's attempt to terminate the sale agreement.
Late last year, PokerStars had agreed to buy the struggling Atlantic Club casino for around $15m, intending to use the casino to launch an online poker site in the state.
The temporary restraining order prevents Colony from entering into negotiations with other parties to sell the Atlantic Club casino for a period of 10 days. A new hearing date has been set for May 17, when the judge is to consider a lengthier restraining order.
