Posts Tagged ‘Stanley Ho’

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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