MGM Mirage To Sell NJ Casino To Appease Regulator

Law360 (March 12, 2010, 4:24 PM EST) -- MGM Mirage has agreed to sell its 50 percent stake in one of Atlantic City, N.J.'s most prosperous casinos in order to resolve the state's concerns over the company's joint venture in Macau, China, with a Hong Kong businesswoman whose father reportedly has ties to Asian organized crime.

MGM will give up its New Jersey casino license and put its ownership interest in Atlantic City's Borgata Hotel Casino & Spa into a divestiture trust under the terms of the stipulation of settlement with the New Jersey Division of Gaming Enforcement, the company and the state attorney general's office said Friday....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!