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MGM Mirage to sell its stake in The Borgata

Submitted by lvvadmin on Fri, 03/12/2010 - 19:29

photo by flipchip • lasvegasvegas.com
CityCenter Las Vegas
CityCenter in Las Vegas, Flagship of the MGM Mirage empire

MGM Mirage is pulling out of Atlantic City.

It isn't because of the economy but because of MGM Mirage's ties to alleged organized crime in Macau.

The New Jersey Casino Control Commission found MGM Mirage's partner connection to be questionable and recommended a separation.

The burgeoning casino empire that MGM Mirage is building in China wasn't worth the hassle, so they decided to settle by selling its 50 percent share of The Borgata Hotel Casino & Spa, which MGM Mirage jointly owns with Boyd Gaming.

Once this occurs, MGM Mirage will no longer do business in New Jersey as a gaming licensee.

And what if the Nevada feels the same way? Could be interesting.

Original Author: 
R.C. Clark
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