Atlantic City, New Jersey 2007 (Photo credit: Wikipedia)
PokerStars, the now notorious online gambling company, is in talks to buy a land-based casino in Atlantic City for a whopping $50 million, reports the Wall Street Journal. You may wonder what the point is of a company that settled a ridiculously scandalous lawsuit by the US Justice Department for over ten times that figure would be doing considering an investment in the USA.
Well, with New Jersey’s changing online gambling laws, owning an Atlantic City casino would allow PokerStars to operate legally as an online gambling provider in the US. Of course, though PokerStars admitted no wrongdoing in their notorious lawsuit, the fact remains that hundreds of players lost their money and they agreed to settle for $731 million with the Justice Department when accused of bank fraud, illegal gambling and money laundering – a curious thing to do when one is innocent.
Whether having a legal foothold in America will bring the disgraced company back to life is debatable, but the purchase of a land-based casino in Atlantic City is certainly good news for one of the weakest gambling centres in the world today. Sources say that the deal may still fall through, but if it comes through, it may mean a new era for PokerStars. Do you think they’ll regain the trust of the poker playing public?
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