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Atlantic City's Atlantic Club Casino has filed a warning that they may have to lay off 1,729 workers by the end of March, although a takeover by PokerStars may halt some of those cuts.
The move by Atlantic Club was filed as part of a New Jersey labor regulatory requirement that stipulates that firms must give advance notice if they think they may have to lay off workers.
Commenting on the filing Atlantic Club COO Michael Frawley said: “While there is no anticipation of layoffs or cessation of operations, as our company moves through this transaction process, the issuance of notices under WARN and N.J. WARN is a necessary legal requirement."
A potential saving grace for Atlantic Club could be the possible acquisition of the casino by internet poker giant PokerStars. The purchase is being reviewed by gaming regulators in the Garden State and could take advantage of pending legislation that would legalize internet gambling in New Jersey if servers are hosted in an Atlantic City casino.
Rumors have been circulating that PokerStars' purchase of the casino could be contingent on Governor Chris Christie signing the bill into law, making the state's Chief Executive potentially responsible for thousands of jobs in a struggling market.