British-based 2UP Gaming has announced it has a letter of intent in hand from an Asian investment group for 215 million pounds (about $331 million US) that “will facilitate 2UP’s planned entry into the United States Internet Gaming market by providing it the means to build or acquire a hotel/casino in Atlantic City, New Jersey.”
The company operates the online gaming website 2UP.com, so this effort obviously relates to the planned launch late this year of online gaming in New Jersey.
Only companies that operate Atlantic City casinos can offer the online gambling, so this cash infusion would allow for that hurdle to be cleared. Casinos in the city have gone for as little as $20 million to $50 million in completed and uncompleted deals in recent years, so this investment can reach far beyond a straight building purchase. Of course, they could think about trying to build a new one as well, as was hinted.
Link to the rest from NorthJersey.com