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Investors Looking at Atlantic City Casinos as Internet Gambling Nears

Investors Looking at Atlantic City Casinos as Internet Gambling Nears

New Jersey’s gambling Mecca seems to be getting its fair share of attention from local and foreign investors, in spite of the continuing revenue declines experienced by Atlantic City (AC) casinos. Now that the November launching of regulated Internet gambling in New Jersey is getting nearer, not a few indicated interests in acquiring an AC casino.

Among the notable names that cropped up, is that of casino magnate Steve Wynn. The rumor mill has it that Wynn might buy back Atlantic Club casino, formerly the original Golden Nugget Hotel Casino built and sold by Wynn during the 80s era. Wynn Interactive LLC is one of the 37 firms that beat the deadline for submitting a NJ online gambling license application, to which the Atlantic Club Casino poses as Wynn’s likeliest choice of a terrestrial gambling establishment.

Another high profile gambling firm said to be looking into the potentials of an AC casino, is Malaysia-based multinational company, Genting Group. There are talks going around that the conglomerate is considering the idea of cross marketing its NY Resorts World Casino in Atlantic City, in view of New Jersey’s upcoming Igaming industry.

The present-day Golden Nugget Casino on the other hand, previously announced plans of offering its own brand of Internet-based casino gaming in NJ. However, there are speculations that the company is considering a different move altogether, after receiving an offer from Houlihan Lokey, a prestigious and leading privately owned global investment bank.

British Igaming firm 2UP and financial partner MidOil are no longer shopping around for a brick-and-mortar gambling establishment, but are already on the verge of finalizing a purchase deal; although they have yet to disclose the name of the AC casino involved.