ATLANTIC CITY, NJ-The pending sale of The Atlantic Club casino and hotel may live or die with Gov. Chris Christie’s decision about whether to permit wagering over the Web, and it is anticipated the governor will make that decision within the next few days, reports the Associated Press.
Rational Group US Holdings, which has signed an agreement to buy the casino hotel, is the parent company of PokerStars and Full Tilt Poker. It is asking state gaming regulators for permission to become the first Internet gambling company to purchase an Atlantic City casino.
At the same time, the governor is sitting on a bill to permit online gaming – similar to a measure he has vetoed once before.
Michael Frawley, the Atlantic Club head tells the AP that the trade would be a way to revitalize investment activity in beleaguered Atlantic City. Frawley said Rational plans to invest $30 million this year after the purchase is complete – and plans to invest $80 million total over the next five years.
Officials from Rational have not commented as to whether they will proceed with purchase of the casino if the governor vetoes a bill now awaiting his signature.