The parent company of two internet gambling sites has agreed in principal to purchase a struggling Atlantic City casino.
Rational Group, US Holdings has filed an application to run the casino with the New Jersey gaming enforcement division.
Company COO, Michael Frawley, previously issued a statement saying: "The acquisition of The Atlantic Club Casino Hotel will secure up to 2,000 jobs and maintain the economic benefits the casino brings to New Jersey."
The company hopes to boost visits and revenue by holding poker tournaments in the casino.
Atlantic Club Casino Hotel has now filed notice to 1,729 employees that they may lose their jobs. The company says the layoff notice is a formality as part of the pending sale.
The troubled casino has going through a number of changes since it was built in 1980 as a Golden Nugget property.
New Jersey is considering allowing on-line gambling, a move that is facing resistance by federal regulators.
Wednesday, May 22 2013 6:09 PM EDT2013-05-22 22:09:08 GMT
New Jersey officials have seized inventory and demanded records from 29 bars and restaurants, nearly half of them TGI Fridays, that they say sold low-quality liquor to patrons who thought they were buying premium brands.
New Jersey officials have seized inventory and demanded records from 29 bars and restaurants, nearly half of them TGI Fridays, that they say sold low-quality liquor to patrons who thought they were buying premium brands.
Wednesday, May 22 2013 12:55 PM EDT2013-05-22 16:55:01 GMT
Jersey shore town is celebrating a milestone as it rebuilds from Superstorm Sandy. Belmar officials will reopen their 1.3-mile boardwalk that was destroyed by the October storm.
Jersey shore town is celebrating a milestone as it rebuilds from Superstorm Sandy. Belmar officials will reopen their 1.3-mile boardwalk that was destroyed by the October storm.
Tuesday, May 21 2013 5:21 PM EDT2013-05-21 21:21:42 GMT
Revel is bankrupt no more. The struggling Atlantic City casino formally emerged from bankruptcy court on Tuesday, just 13 months after it opened with sky-high hopes.
Revel is bankrupt no more. The struggling Atlantic City casino formally emerged from bankruptcy court on Tuesday, just 13 months after it opened with sky-high hopes.
Tuesday, May 21 2013 7:33 AM EDT2013-05-21 11:33:20 GMT
A New Jersey priest who resigned after admitting he worked unsupervised with kids despite a legal agreement that barred him from doing so is headed to court.
A New Jersey priest who resigned after admitting he worked unsupervised with kids despite a legal agreement that barred him from doing so is headed to court.
Monday, May 20 2013 10:42 PM EDT2013-05-21 02:42:18 GMT
Omar Morales feels lucky to be here for his son Joshua's 10th birthday on Monday. Morales was one of the passengers on board a USAir flight that made an emergency landing at Newark Liberty.
Omar Morales feels lucky to be here for his son Joshua's 10th birthday on Monday. Morales was one of the passengers on board a USAir flight that made an emergency landing at Newark Liberty.
Photo courtesy Atlantic Club Casino
