This just in: Poker Stars has announced an agreement to offer Internet gambling in New Jersey via Mohegan Sun-run Resorts Atlantic City. This enables Rational Group to get a U.S. foothold without the inconvenience of buying a physical casino.
Colony Capital is free to keep trying to sell the Atlantic Club, says a New Jersey court of appeals. This puts would-be buyer PokerStars in an interesting pickle: What if it wins its argument at the state Supreme Court level — but Tom Barrack has already gone and sold the casino to someone else? PokerStars owner Rational Group‘s fixation on trying to buy an asset from someone who doesn’t want to sell it — and already bargained quite cynically — looks most irrational. Further complicating the situation, Atlantic Club COO Michael Frawley is making noises to the effect that Colony might want to hang onto the casino and get into Internet gambling itself … which would neatly explain Colony’s double-cross of PokerStars. You can just about see the dollar signs glistening on Colony CEO Barrack’s pearly whites.
Making life harder for the executives who run Trump Entertainment Resorts, minority owner and spokesbuffoon Donald Trump is talking about cutting his own online-gambling deal. He hasn’t got enough ownership stake to force it upon Trump Plaza. (TER’s arrangement with Ultimate Gaming is exclusive to Trump Taj Mahal.) Also, Trump’s stake in the company is predicated upon his continuing role as its glowering, loudmouthed PR surrogate. So if Trump the person goes into i-gaming competition with Trump the casino company, it would be awkward at best and very ugly at worst.
Take heart, Atlantic City. Tourist-satisfaction ratings of Macao have actually slipped in the last year. So you’re not the only gambling destination with an image problem. Sheldon Adelson will be glad to know that meetings and exhibitions had the highest approval rating (74%) and the shopping satisfaction was on the rise. Dining, tourism and border access were deemed least satisfactory.
Adelson really 0ught to rethink his decision to shed Sands Bethlehem, red-headed stepchild of the Las Vegas Sands portfolio. While slot revenues in Pennsylvania were down last fiscal year (after a good, long run of growth) Sands and Sands alone bucked the trend, up 2%. The month’s numbers provide additional fuel for the argument that the U.S. has reached a casino-saturation point and we’re just moving the same discretionary dollars around from market to market.
Trump announced that he would be working with the Trump Casinos a few years ago on a Internet-based gaming platform. It looks like they struck a deal without their “partner”.