In an intriguing move to return to the U.S. poker scene, the online poker monolith PokerStars is allegedly in negotiations to buy an Atlantic City casino 20 months after being ejected from the American poker market.

In articles from Forbesby Nathan Vardi and the Wall Street Journal by Alexandra Berzon, talk of a potential deal for PokerStars to step to the rescue of the Atlantic Club Casino Hotel (pictured) on the Boardwalk in Atlantic City has incited a great deal of buzz. Why? The involvement of PokerStars and the potential price tag. According to Berzon and Vardi, PokerStars would pay as much as $50 million to take over the casino, but both writers caution that an agreement is “still weeks away” from completion and could break down at any time.

Surprisingly, the Atlantic Club doesn’t have what PokerStars has become known for: an active poker room. The casino offers a wealth of the normal table game fare such as Pai Gow, craps, blackjack, and Three Card Poker, but there isn’t a live poker room. Thought to be more of a “locals” casino, the Atlantic Club being purchased by PokerStars could put it on track to become more of a player in the Atlantic City, and potentially the U.S., gaming scene.

There are several potential problems that PokerStars faces in the purchase of the Atlantic Club. Although the company settled its issues with the U.S. Department of Justice from the Black Friday indictments back in August, Vardi believes that several of PokerStars’ competitors will bring up the fact that the founder and former owner of the site, Isai Scheinberg, is still under criminal indictment by the U.S. Government and remains at large, making the company a less-than-acceptable owner of a casino operation.

Secondly,PokerStars is technically not in the casino business, which could thwart its efforts to prove it could turn the Atlantic Club around. Although PokerStars has bought a minority stake in the London casino The Hippodrome, it is not responsible for the operation of said casino. In that case, PokerStars paid an unspecified amount to take a partial ownership in the Hippodrome, which is estimated to be worth £100 million.

There is a notable reason that PokerStars is trying to work its way into the American casino scene, especially in Atlantic City. Earlier this week, the New Jersey legislature fired up the engines on State Senator Raymond Lesniak‘s (pictured) push for full online casino gaming, which has been languishing in governmental purgatory for much of the past year. Read more.

Lesniak believes that the two bodies that make up the New Jersey legislature (the General Assembly and the Senate) would vote on the bill in the next two weeks and, if passed, it would be on Governor Chris Christie‘s desk before Christmas.

If Christie (pictured) signed the legislation into law and the New Jersey Division of Gaming Enforcement approved the sale of the Atlantic Club to PokerStars, it would once again give PokerStars a foothold to obtain an online gaming and poker license in the United States, albeit on an intrastate basis.

At this time, both sides are rather silent on the issue. Berzon reported in the Wall Street Journal that preliminary talks by PokerStars with New Jersey gaming regulators have indicated that the company and its executives would be licensed, but New Jersey officials have refused to comment on a potential deal.

PocketFives will continue to monitor the situation as PokerStars looks to once again make its impact on the American gaming scene. What do you think? Is the move by PokerStars a smart one? Should New Jersey issue PokerStars a license? Comment here and let us know!

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