Could PokerStars Save 1,729 Jobs?
With Atlantic City in desperate need of an economic boost and Gov Chris Christie stalling on the signing of the online gambling bill, could it be down to PokerStars to step in and give the much needed help? They have made their offer and it's waiting for approval but the whole deal could well be tied to the signing of the bill, which may not be great news for the 1,729 staff at the Atlantic Club Casino Hotel. As part of the whole process the Atlantic Club has had to file a mass lay off notice with the New Jersey Department of Labor, however they have stated that this is just a formality that is directly connected to the change of ownership and that no job cuts are planned, yet by law 60 days notice must be given to comply with the Worker Adjustment and Retraining Notification Act. Atlantic Club's COO Michael Frawley who issued the notice said that although the notice says that workers will be laid off on the 29th March there is a "definitive agreement" that Resort International Holdings will sell the casino as a going concern to Stars holding company, Rational Group. Local 54 is the largest union that represents casino and hotel workers in the area and president Bob McDevitt says that the union was aware of the notice before it was made public and that they were told it was a legal requirement. He also added that the casino has assured him personally that there will be no job losses and will continue operating. Rational Group who filed papers for the purchase last month are waiting for approval of sale by the New Jersey Division of Gaming Enforcement and they will submit a report to the the New Jersey Casino Control Commission who have 30 days after that to make a decision on the ownership change. Let's hope the sale and change goes through smoothly for all concerned as there is quite a few things riding on it.