MGM Mirage To Sell NJ Casino To Appease Regulator

Law360, New York (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...
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