Looks like pokerstars isnt to happy with Atlantic Club.
http://diamondflushpoker.com/2013/05...-requests-tro/
Looks like pokerstars isnt to happy with Atlantic Club.
http://diamondflushpoker.com/2013/05...-requests-tro/
With Pokerstars infinite $$, I can't see this ending well for the Atlantic club.
#FREEJACK #NEVERFORGETOriginally Posted by Dan Druff
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PS wouldn't be going this hard at the Atlantic Club unless they were sure they where going to get approval for a gaming licence in NJ
Good for them, the Atlantic Club deserves it in this case.
They really probably tried to get over on the wrong outfit here.
Lord have mercy.
What don't you like about that Deal. Enlighten us to your infinite wisdom of all of this, please.
Also, judge issued the temporary restraining order this morning. Court date set for May 17.
Wall Street Journal
http://online.wsj.com/article/SB1000...115206860.html
Interesting tidbit in Atlantic Clubs reasoning as to why they did not renew the deal. Could of course just be legal posturing, but Atlantic Club CFO Eric Matejevich says-
“was not fully aware of the extent of the criminal problems that (PokerStars founder Isai) Scheinberg and other senior officials at PokerStars were facing. For instance, Matejevich did not know that Scheinberg and another officer of PokerStars, Paul Tate, were fugitives from the American courts.”
And that on,
"Around 3 p.m. on April 26, 2013, Matejevich received a cell phone call from Scheinberg.
From that conversation, it was clear that Scheinberg was fully involved in, and conversant with, details regarding the sale of Atlantic Club and was being kept up to date on Rational’s licensing matters on a real time basis. Scheinberg advised Matejevich that his advisors had reported to him that they had a “90% chance” of getting an ICA, and encouraged Matejevich to call the DGE."
Sounds a little lol to claim to have had no clue about the Scheinberg/Tate legal surroundings, unless of course you just wanted an 11 million dolllar freeroll to keep the doors open through a difficult winter season.
The fact Isai himself may have made this call, which you would think there is some record of just seems insane, and awfully brazen if true. Will be interesting to hear more of what comes out of this, as court is planned for this Friday.
Isai....as in Isai Scheinberg, of PokerStars? Do what he agreed? You're joking right?
http://blog.northjersey.com/meadowla...club-in-place/
hahahahahahahaha AC slowrolled pokerstars
Last edited by 3ozBacardi; 05-17-2013 at 08:14 PM.
Lets bump all the threads about this and post it several days late.
Did I do bad?
Does this mean NJCOOP isn't coming soon???
TRUMP 2024!
more perspective on the matter
http://www.pokerplayernewspaper.com/...nd-hotel-12666
Pokerstars lost their appeal in New Jersey.
This is done.
http://www.lasvegassun.com/news/2013...#axzz2XWT9GKsi
There's running bad and playing bad.
Pokerstars played this one bad.
They signed a terrible contract that gave Atlantic Club the right to terminate the agreement if Pokerstars didn't have a license by April 26, 2013.
Stars gave themselves little time, and once their licensing got stalled, the Atlantic Club now held all of the cards.
If they wanted to still proceed with the deal, they could.
If they wanted out, they could also terminate the agreement.
So the Atlantic Club, using $11 million of Stars' money, improved their casino, earnings went up, and they looked forward to potentially making even more with online gambling legalized in New Jersey. At this point, they no longer wanted to sell for the staggeringly low price of $15 million.
They told Stars to go suck a big one, and it held up in court.
A rare screw up by Pokerstars, a company known for doing nearly everything right.
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