PokerStars parent ready to spend big in New Jersey
Rational Group also owns the FullTilt Poker brand and filed an application with the New Jersey Division of Gaming Enforcement in January to purchase the American bricks-and-mortar casino from current owner Resorts International Holdings, which is an affiliate of Los Angeles-based hedge fund Colony Capital.
In an interview with Mike Schneider from the NJ Today television programme, Michael Frawley revealed that the initial deal will see Rational Group spend around us$ 20 million over the first year in order to turn the struggling venues into a ‘more than profitable’ enterprise.
“Right now, we are not a profitable casino,” said Frawley. “With PokerStars and Internet gaming and the capital investment it is prepared to make in the property we expect to be more than profitable.”
Frawley also stated that Rational Group has plans to invest in other areas of New Jersey despite opposition from the American Gaming Association (AGA) lobby group. “I know that there are plans to invest in other places in the state,” said Frawley. “We are also going to have to build a data centre on property, which is a very significant property investment.”
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