Posts Tagged ‘William J. Pascrell III’

PokerStars wants to build $10 Million Poker Room in Atlantic City

Friday, October 4th, 2013

PokerStars isn’t giving up on Atlantic City yet. Just months after their failed deal with the Atlantic Club Casino, PokerStars’ parent company, The Rational Group, is seeking to build a $10 million poker room in the East Coast gambling hub.

The $10 million complex would be housed in Resorts Casino Hotel, which hasn’t had a poker room since 2010. Resorts spokesman William J. Pascrell III discussed The Rational Group’s plans for his casino through the following statement:

As soon as the license is in hand, they’re ready to start building. It will be the PokerStars poker room at Resorts. PokerStars is committed to investing significant resources to put in a brand new poker room at Resorts Casino Hotel. In addition to the poker room, they are committed to driving traffic to Atlantic City through their marketing.

Of course, obtaining licensing anywhere in the US has been a chore for PokerStars from day 1. The big reason why The Rational Group lost out on buying the Atlantic Club is because they couldn’t get the state of New Jersey to approve them before a set date. This allowed the Atlantic Club to walk, as per their contract, leaving Stars with millions of dollars in lost money.

It’s a good bet that Stars has learned their lesson this time around, and they likely have a rock-solid contract with Resorts Casino. Assuming The Rational Group gains approval to build their $10 million poker room, it’ll give them a headquarters in the United States.

More importantly, it will put PokerStars in line to serve the ballyhooed US online poker market. Many companies are clamoring to get into New Jersey’s legalized online poker market, which launched on November 26th. And any company that gets in now will have access to multi-state pacts that New Jersey makes with other states. Of course, Stars is mainly focused on accomplishing the first thing: getting a license for their live poker room.