- The formal filing warns that 1729 workers may lose their employment by March 29.
- Michael Frawley, Atlantic Club’s chief operating officer, issued a statement assuring that this was a necessary procedural step required as part of the ownership change.
The Atlantic Club Casino Hotel has filed notice of mass layoffs at the casino, but called the move “simply a legal formality” in preparation for the impending sale to Rational Group. Significant job losses are not expected.
The formal filing warns that 1729 workers may lose their employment by March 29. However, according to Press of Atlantic City, Michael Frawley, Atlantic Club’s chief operating officer, issued a statement assuring that this was a necessary procedural step required as part of the ownership change.
It was first reported that Rational Group, parent company of PokerStars and Full Tilt Poker, was interested in purchasing the New Jersey casino in December, and the deal was confirmed earlier this month.
The deal is contingent upon the grant of an interim casino license from the Casino Control Commission.
On confirmation of the agreement, Eric Hollreiser, head of corporate communications At Rational Group, highlighted that the deal “will secure up to 2000 jobs and maintain the economic benefits the casino brings to New Jersey.”
A bill to regulate all forms of gambling, including online poker, currently sits on Governor Chris Christie’s desk. He has until Feb 7—next Thursday—to veto or sign the bill; if he does not act, the bill will become law.