A story first reported in the Wall Street Journal states that the world's largest online poker brand, PokerStars, is in talks to buy The Atlantic Club casino in Atlantic City, N.J., from investment firm Colony Capital, LLC. If successful, the deal would be regarded by many as having been made in anticipation of New Jersey's possibly imminent regulation of online gaming in the state.
One of the sources familiar with the matter told the newspaper that the purchase price being negotiated would be less than $50 million, but added the deal was weeks away from closing and could fall through.
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