PokerStars might buy Atlantic Club Casino for $50m

Our Recommended Casinos

1100%$250Get BonusRead Review
2£50100%Get BonusRead Review
3$1,500200%Get BonusRead Review
4$400100%Get BonusRead Review
5$1000200%Get BonusRead Review
6£250100%Get BonusRead Review

PokerStars has made a lot of major business moves over the past year. First off, they paid $257 million worth of back taxes to Spain just so they could enter this newly-regulated market. Then Stars pulled off the biggest online poker deal of all-time after purchasing Full Tilt Poker from the US Department of Justice for $730 million.

Based on these major deals, you'd think that Stars would be slowing down on their multi-million dollar transactions. However, it seems like they're at it again following rumors of a land-based casino acquisition.

Another Takeover

Over the past few years, the Atlantic Club Casino has had a tumultuous financial history. Previously called the Atlantic City Hilton, this establishment has struggled mightily during a United States recession. Atlantic City has been hit especially hard by the recession, which is affecting casinos in a major way too.

That said, rumors have been swirling about PokerStars buying the Atlantic Club Casino for $50 million from Colony Capital LLC. The rumors came from the Wall Street Journal, which cited several people who were close to the situation.

First Step

The reason why Stars wants to buy the Atlantic Club Casino isn't because they're suddenly interested in brick and mortar gambling. Instead, New Jersey is on the brink of approving online gambling this month. And if Stars were to own the Atlantic Club Casino, they'd have a very good chance to be approved for an internet gaming license in New Jersey.

But this is just one state and PokerStars actually has bigger aspirations. The hope is that by having a license in New Jersey, Stars will gain some reputability. And if online poker is ever legalized on a federal level, the world's largest poker site can then try to gain access to the entire United States market.

Of course, all of this is going to take a while and PokerStars is just trying to work out a deal for the Atlantic Club Casino first.