Zakonodavstvo
US – MGM cleared to operate in Atlantic City again
By Phil - 11. rujna 2014
MGM Resorts International has been cleared to operate in Atlantic City following a five year battle with the New Jersey Casino Control Commission who was concerned over the operators partnership in Macau with Pansy Ho.
The move to reinstate MGM comes as a host of casinos close in Atlantic City due to tough market conditions and neighbouring competition.
The commission believed in 2009 that Pansy Ho wasn’t a ‘suitable’ partner for MGM, due to alleged links between her father, Stanley Ho and organised crime in Asia.
However, in a 3-0 vote, the New Jersey Casino Control Commission found MGM qualified to hold a gaming license, paving the way for the company to regain its 50 per cent ownership in Borgata Hotel Casino & Spa.
Matthew Levinson, the commission’s Chairman, said: “I want to say that I welcome MGM back into the New Jersey gaming industry. The company is one of the leaders in the gaming and entertainment industry, and I believe it is a very positive sign for Atlantic City’s future.”
Jim Murren, Chairman and CEO of MGM Resorts, added: “After a thorough and comprehensive review, we are gratified by the unanimous vote of confidence from the New Jersey Casino Control Commission and the New Jersey Division of Gaming Enforcement. MGM Resorts International welcomes the opportunity to be an active contributing member of the New Jersey gaming marketplace through our 50 per cent ownership of Borgata Hotel Casino & Spa. Borgata is a best in class resort and, under the insightful leadership of Boyd Gaming, has set a new standard in Atlantic City. We look forward to working together with our co-owners on Borgata’s continued success.”
MGM-ov interes za Borgatu trenutno se drži u trustu za prodaju. Prema uvjetima ugovora o povjerenju i odredbi o nagodbi s Odjelom za nadzor nad igrama na sreću (DGE), povjerenik će pripremiti konačno računovodstvo za odobrenje od strane DGE-a i, nakon toga, za odobrenje od strane Komisije za kontrolu kasina. Po primitku potrebnih odobrenja, MGM-ov udio u Borgati, približno 86 milijuna dolara gotovine i ulaganja, te vlasništvo nad određenom iznajmljenom nekretninom u Atlantic Cityju u trustu bit će preneseni na MGM. Ovlast za izdavanje potrebnih administrativnih suglasnosti Povjerenstvo je delegiralo na svog predsjednika, a zaprimanje suglasnosti trenutno se očekuje u sljedećih 30 dana.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, added: “Boyd Gaming is pleased with today’s decision by the New Jersey Casino Control Commission. MGM Resorts has been an excellent and valued partner at Borgata over the years.
“Boyd Gaming remains the managing partner of Borgata, which has been the case since the formation of our joint venture. Accordingly, day-to-day operations at the property will be unchanged. We look forward to continuing to build on Borgata’s long track record of success as the region’s leading entertainment resort destination.”
The New Jersey Division of Gaming Enforcement said Pansy Ho’s influence on the Macau partnership was no longer as strong following a restructuring of what was previously a 50-50 partnership. She is now only a minority owner.
David Rebuck, the Division’s Director, said MGM had taken ‘substantial steps’ to limit Pansy Ho’s influence and that the operator had ‘overcome an area of significant conflict.’
MGM will now look at developing 72 acres of unused land that it owns next to Borgata and another 14 acres of property opposite the Golden Nugget Atlantic City.
