New gambling legislations will decide New Jersey’s gambling fate. The state is now facing a 1,729 worker layoff from one of their land-based casinos, Atlantic Club, due to low revenues.
A possible negotiation with PokerStars may save Atlantic Club from total bankruptcy. If the New Jersey gambling legislation is modified to allow online gambling, the poker company may take over the casino and save it from its downfall. If so, the employee layoff may also be halted; however, no official declaration has been made so far.
Atlantic Club COO, Michael Frawley, said the layoff might take place during the next few months, but the NJ labor legislation required the anticipation of any potential employment dismissal.
The PokerStars deal is inconclusive until the incumbent NJ governor, Chris Christie, signs the bill to allow online gambling. The new legislation will give consent to online gambling sites as long as the servers are located in a local land-based casino.