Posts Tagged ‘Matthew Levinson’

May 14, 2013

New Jersey’s Top Gaming Regulator Warns of Overregulation

Says balance needed to ensure integrity, business investment

Atlantic CityAs chief regulator for New Jersey’s struggling casino industry, Matthew Levinson has an interesting balancing act.

The Casino Control Commission must ensure the market is free of corruption. At the same time, turning away potential investment could be viewed as counterproductive.

Levinson, 33, was appointed to a five-year term as the commission’s seventh chairman in August by Gov. Chris Christie.

In less than eight months on the job, he has experienced the gaming market’s financial ebbs and flows, the weeklong closure of casinos in October because of Superstorm Sandy, the emergence of online gaming giant PokerStars as buyer of a struggling Boardwalk casino, and the application of MGM Resorts International to regain its gaming license that it surrendered in 2010 after a stipulated agreement with the Division of Gaming Enforcement.

Also, New Jersey lawmakers approved legislation allowing Atlantic City casinos to offer Internet gaming, and Christie has pushed the casinos to allow sports wagering, a move being fought in federal court.

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February 18, 2013

MGM Resorts Seeks Re-Entry Into Atlantic City

Regulatory dispute stemmed from connections to Chinese gambling kingpin

MGMResortsMGM Resorts International, which gave up its ties to Atlantic City’s casino market nearly three years ago to settle a dispute with New Jersey gaming regulators, is seeking to regain a piece of the action.

The Las Vegas casino giant, which still owns 50 percent of Atlantic City’s market-leading Borgata, petitioned the New Jersey Casino Control Commission on Monday to reinstate the company’s gaming license in Atlantic City.

In a statement, MGM Resorts officials said the company “would welcome the opportunity to once again be an active, contributing member of the New Jersey gaming marketplace.”

MGM Resorts placed its Borgata ownership in trust in 2010 following settlement of a complaint filed by the New Jersey Division of Gaming Enforcement.

The agency said MGM Resorts’ joint-venture partner in Macau, Hong Kong businesswoman Pansy Ho, was unsuitable because international law enforcement alleged casinos controlled by her father, billionaire Stanley Ho, were influenced by Chinese organized-crime triads.

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