The struggling brick-and-mortar Atlantic City casino business could be getting a boost from an online poker giant if the Rational Group’s bid to purchase the Atlantic Club Casino and Hotel.
According to an article in the Wall Street Journal, Rational Group, the owners of PokerStars and Full Tilt Poker, is hoping to make the purchase for around $50 million. While details of the deal are still being hammered out, it would definitely be a big win for all involved parties.
There’s still a good chance that owning a land-based casinos will be a prerequisite for entry into the US online poker market. If nothing else, it would give them a toehold in a state that’s already approved measures allowing casinos to offer online gaming.
In Atlantic City, where casino revenues have been declining for years, the addition of a new, cash flush, player is certainly welcome news.
If the sale is approved, Rational Group will definitely have a fixer-upper on their hands, according to the Las Vegas Review Journal, the Atlantic Club was the 10th lowest earning casino of the 12 casinos operating in Atlantic City.
It’s expected that negotiations to finalize the deal could take a couple more weeks.
What do you think of Rational’s attempts to enter the Atlantic City market? Share your thoughts in the comments section below.