PokerStars to Offer Online Gambling in New Jersey With ResortsChristopher Palmeri
PokerStars, the world’s largest Internet poker site, plans to offer online gaming in New Jersey with Resorts Casino Hotel.
New Jersey legalized online betting in February as a way to boost the state’s $3 billion casino industry, which has been losing business as nearby markets expanded. Online operators are required to form a partnership with a casino located in Atlantic City, the state’s gambling center.
A deal for PokerStars to buy New Jersey’s Atlantic Club Casino Hotel fell apart earlier this year amid opposition from the American Gaming Association trade group. PokerStars’ parent company, Isle of Man-based Rational Group Ltd., reached a settlement with the U.S. Justice Department over charges of fraud and money laundering related to the company’s offering of online poker in the country last year.
PokerStars and Resorts said today in a statement that their agreement is pending approval by New Jersey regulators.
Resorts, Atlantic City’s first casino, opened in 1978 and is owned by New York real estate investor Morris Bailey and managed by a unit of the Mohegan Tribal Gaming Authority.