The Rational Group (d/b/a PokerStars) today filed a lawsuit in New Jersey Superior Court looking to restrain the sellers of the Atlantic Club Casino and Hotel from continuing to breach the acquisition agreement which was entered between the Rational Group and the vendor (who're led by Colony Capital LLC) in December 2012. This step have been taken to offer protection to Rational Group's rights and interests under the acquisition agreement and reflects the Group's want to complete the purchase of the Atlantic Club.
Judge Raymond Batten granted our request for a brief restraining order (TRO) shortly after the complaint was submitted, confirming the continuation of the present agreement.
The Rational Group has funded Atlantic Club shortfalls inside the winter season since October 2012 preventing its bankruptcy and the lack of over 1,800 jobs.
The Rational Group remains entirely committed to resolving this situation, and to its investment in New Jersey, while it continues to diligently work on completing the specified licensing process.
Eric Hollreiser is Head of Corporate Communications for PokerStars
Read More... [Source: PokerStarsBlog.com :: Corporate Blog]
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