Today is set to be a big day for PokerStars parent company The Rational Group and The Atlantic Club Casino in Atlantic City, as a New Jersey court is set to hear arguments from both sides that a court ordered injunction on the deal should be upheld or dismissed.
The case is set to be heard by New Jersey Judge Raymond Batten, who will decide whether or not the restraining order preventing the sale of The Atlantic Club to a third party should be allowed to stand.
The legal dispute between the two firms began when Rational failed to obtain a New Jersey Casino License by the stipulated deadline that was put into place between it and The Atlantic Club. After this deadline, The Atlantic Club attempted to walk away and find a new buyer.
That move is controversial because Rational paid The Atlantic Club $11 million of the agreed to price of $15 million, a total that The Atlantic Club wants to pocket and not refund.
Because of The Atlantic Club's stance, Rational filed a motion for a court injunction through New Jersey's judiciary system. The court awarded the injunction, to which The Atlantic Club appealed, saying that it didn't know of Rational's previous legal issues in the United States, and that such an injunction will irreparably harm the casino.
Rational has since responded, saying that The Atlantic Club has admitted that it wants to sell the casino to another party. The argument claims that The Atlantic Club is attacking Rational in order to get a better deal from a third party.