PokerStars bid to buy AC casino scrapped - Los Angeles Local News | FOX 11 LA KTTV

PokerStars bid to buy AC casino scrapped

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Photo courtesy Atlantic Club Casino Photo courtesy Atlantic Club Casino

ATLANTIC CITY, N.J. (AP) - A bid by the world's largest online poker website to buy an Atlantic City casino has gone bust.

The Atlantic Club Casino Hotel announced Wednesday that a purchase agreement with the British parent company of PokerStars has been terminated.

Chief Operating Officer Michael Frawley says the deal is off "in accordance with its terms" but did not provide further details.

Frawley says the casino will aggressively pursue any other opportunities made possible by the advent of online gambling in New Jersey. The state legalized Internet gambling this year and the first online bets are expected by year's end.

The Atlantic Club was bidding to become the first casino in America to be fully owned by an online gambling company. The trade group representing brick & mortar casinos had opposed the deal.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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