Poll: What should PokerStars do next?
With the Atlantic Club now free to talk to other interested parties, what should PokerStars next step be in New Jersey?
A ruling on Friday in New Jersey seemed to put an end to PokerStars hopes of acquiring the Atlantic Club Casino, but this is unlikely to be the end of the online poker giant’s US ambitions. While a judge ruled the Atlantic Club could be put back on the open market, and the two firm’s arguing over a remaining $4 million in alleged payments owed to the Atlantic Club, PokerStars owners Rational Group refused to be drawn on its future plans.
The $15 million acquisition deal was initially cancelled by Atlantic Club owners Colony Capital on May 1 before PokerStars filed a motion to get a temporary restraining order to keep the deal alive. The ruling to lift the restrictions on Colony Capital talking to other suitors for the struggling casino is by no means the end of the saga, however, and perhaps the most interesting step will be what PokerStars does next.
PokerStars said in a short statement it remained committed to New Jersey and to contributing to its economy. Commentators have suggested Rational Group could mount an improved bid for the Atlantic Club, in which it has already invested $11 million. But perhaps the PokerStars owners would prefer to spend their considerable war chest on a rival operator in a city where there remains a number of properties that are struggling in the current economic environment.
But the war of words in New Jersey has become increasingly bitter in recent months, with the AGA lobbying regulators in New Jersey to block PokerStars from becoming licensed. And while Rational Group appears confident it would obtain the licence needed to operate in New Jersey perhaps they will decide discretion is the better part of valour in this case and focus their attentions elsewhere.
Could their future lie in California where online poker legislation is once again on the agenda, or maybe they could abandon their US plans altogether and focus on the rest of the world where they continue to dominate the online poker space. Perhaps it could even look to form a partnership with an existing US operator and enter the market as a B2B operator. Stranger things have happened.
With so many options open to them, in this week’s poll we ask what PokerStars smartest move would be. Should they go back with an improved offer, or look elsewhere for a suitable partner in the state? Or should they abandon ship and focus on their core European markets for future growth? Cast your vote on the right hand side of the page.