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The Rational Group (d/b/a PokerStars) today filed a lawsuit in New Jersey Superior Court trying to restrain the sellers of the Atlantic Club Casino and Hotel from continuing to breach the acquisition agreement which was entered between the Rational Group and the vendor (who're led by Colony Capital LLC) in December 2012. This step have been taken to give protection to Rational Group's rights and interests under the acquisition agreement and reflects the Group's complete the purchase of the Atlantic Club.

Judge Raymond Batten granted our request for a short lived restraining order (TRO) shortly after the complaint was submitted, confirming the continuation of the present agreement.

The Rational Group has funded Atlantic Club shortfalls within the winter season since October 2012 preventing its bankruptcy and the lack of over 1,800 jobs.

The Rational Group remains entirely committed to resolving this situation, and to its investment in New Jersey, while it continues to diligently work on completing the desired licensing process.

Eric Hollreiser is Head of Corporate Communications for PokerStars

Read More... [Source: PokerStarsBlog.com :: Corporate Blog]