If at first you don’t succeed, pay off another casino. At least that is what it appears that PokerStars is doing in Atlantic City. In an article first reported on by Press of Atlantic City, PokerStars is looking to spend $10 million to build a live poker room at the Resorts Casino Hotel in Atlantic City.
Unlike their failed deal with the Atlantic Club earlier this year, PokerStars is waiting to gain approval from the New Jersey regulators before beginning construction on the poker room. At present, Resorts does not offer live poker and has not done so since 2010. The live poker room would run in conjunction with their online poker solution for Resorts.
Initially, the move would create 50 new jobs for Resorts as they would need personnel to setup online poker for the casino. Next, should they receive approval, PokerStars is planning on establishing their internet gambling headquarters for North America in New Jersey. This could potentially add another 150 jobs for the state by mid-2014.
According to a Resorts spokesman, “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.”
PokerStars is reportedly still interested in purchasing an Atlantic City casino, so the partnership with resorts could be a short-term investment by the company. They attempted to purchase The Atlantic Club earlier this year, but once it became clear that the company would not be licensed immediately, the Atlantic Club backed out of the deal.
This move by PokerStars is not unexpected following the fiasco with The Atlantic Club. By working out the deal in this fashion, it helps to potentially bolster their application with New Jersey regulators in a way that will not cost PokerStars any money upfront.