Zynga and BwinParty should partner to buy The Atlantic Club
I've gone back and forth on this for 2 days but I think they should move on it. If they can get Bwin to come along great if not then go alone.
Poker Stars still wants it really bad and it appears the hold up may be that their owner being under indictment might have put the clubs gaming license in jeopardy.
It appears that even though the Atlantic Club wanted and needed the deal they walked away from Poker Stars because in the end they could not risk the loss or suspension of their gaming license.
The deal was reported to be around 30 million plus a commitment for property upgrades including the data center for online gambling totaling around 40 million. The Atlantic Club is currently not profitable and reports suggest it was losing 40 million per year. The CEO of the Atlantic Club stated before the deal fell thru that with their projections of online gambling combined with the improvements to the property the expected to be "more than profitable".
We currently have 186 million dollars set for stock repurchase... I like that. But I would prefer we allocate that same money to a bold move into the US online gambling market and I see the ocean front resort in Atlantic City as an asset who's value will hold if not increase over time.