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September 19, 2014

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PokerStars parent firm wants to buy N.J. casino

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ASSOCIATED PRESS

In this March 13, 2012, file photo, Michael Frawley, chief operating officer of the Atlantic Club, poses in front of the Atlantic City casino. The parent company of PokerStars, the online gambling site, wants to buy the Atlantic Club, and has asked New Jersey casino regulators for permission.

ATLANTIC CITY — An Internet gambling company wants to buy Atlantic City, N.J.'s Atlantic Club casino and says it's ready to pump money into it to help prop up the seaside gambling resort.

Rational Group US Holdings is the parent company of PokerStars and Full Tilt Poker. It's asking New Jersey casino regulators for permission to buy the Atlantic Club for an undisclosed amount.

The proposed deal will be scrutinized closely.

New Jersey lawmakers have passed a bill that would authorize Internet gambling, but Republican Gov. Chris Christie hasn't acted on it.

Last year, PokerStars paid $547 million to settle money laundering charges from a U.S. government crackdown on illegal Internet gambling. It admitted no wrongdoing and is allowed to operate in states where online gambling is legal.