PokerFuse reports that British gaming company 2UP is looking purchase an Atlantic City casino. 2UP has received a commitment from an Asian investment firm to acquire a hotel casino property for $330 million.
“2UP has been working diligently for the past 12 months assembling the finest technology and strategy necessary to be a global leader in the I-Gaming marketplace,” 2UP Chief Executive Officer, Marino Sussich said in a press release Thursday. “Emerging global gaming markets have created enormous growth opportunity for our company. The soon to be released launch of 2UP’s on-line gaming products into the United States will significantly add to this growth.”
In June, all casinos but the Atlantic Club and Revel, declared any potential or existing partnerships with online gaming providers to the Division of Gaming Enforcement. The Atlantic Club originally entered into a $15 million deal with PokerStars but later walked away.
Only a year after opening, new casino Revel filed for Chapter 11 protection under U.S. Bankruptcy Code. According to a Revel statement, the company once valued at more than $400 million has secured $350 million in exit financing and a $75 million revolver to fund working capital.
The letter of intent is subject to a definitive agreement between the parties by September 9.
2UP, a registered UK company listed on GXG, currently operates online gambling site 2up.com which offers online casino gaming, poker, and a sportsbook. The site is licensed under Curacao.