A dispute with New Jersey regulators may force MGM Mirage to do what the recession to this point hasn't, sell certainly one of its casinos. The state Division of Gaming Enforcement has officially requested the brand new Jersey Casino Control Commission to open hearings at the license of the Borgata Hotel Casino and Spa, that is jointly owned by MGM and Boyd Gaming.At issue is MGM Mirage's partnership with Pansy Ho in its Macau gaming ventures. While Ho withstood the regulatory review of Nevada and other regions, New Jersey disqualified her because of concerns about involvement with Asian organized crime.
Ho is the daughter of Stanley Ho, the longtime Macau gaming monopolist whose background will likely be linked with crooked elements. But MGM says Pansy has no involvement together with her father, and is a suitable candidate for a gaming partner.
With the review coming, MGM is also forced to exit either New Jersey, by selling its shares of the Borgata, or Macau, by selling its a part of the MGM Grand Macau. The Borgata is the busiest casino in Atlantic City, while the MGM in Macau trails far behind the operations there by Wynn Resorts and Las Vegas Sands.
Still, MGM is calling to extend its share of Macau's gambling market, and being tops in Jersey isn't what it once was. MGM officials said the problem may take a year or more to resolve.
"In the intervening period, we think nothing to switch in regards to the company's status and expect that our current investments and operations in New Jersey and elsewhere will continue without disturbance," said an MGM spokesman.
Published on August 2, 2009 by JulieWong
Read More... [Source: Macau Casino Gambling News]
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