• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

New Jersey approves MGM Resorts’ Borgata purchase

Jul 15, 2016 Newsdesk Latest News, Top of the deck, World  


New Jersey approves MGM Resorts’ Borgata purchase

MGM Resorts International’s purchase of Boyd Gaming Corp’s 50 percent stake in Atlantic City’s Borgata Hotel Casino and Spa has received regulatory approval in New Jersey, reports the Associated Press (AP).

MGM Resorts had been effectively forced to give up control of its then 50-percent interest in the Borgata, one of Atlantic City’s best-performing gaming properties, because of issues raised in 2009 by the New Jersey Division of Gaming Enforcement regarding the “suitability” of Macau casino investor Pansy Ho Chiu King, at that time a 50 percent partner with MGM Resorts in a Macau casino business.

Ms Ho later sold down her stake in MGM China Holdings Ltd, the entity controlling the Macau gaming operation.

MGM Resorts had put its 50 percent Borgata ownership into a fund controlled by a trustee when it pulled out of the Atlantic City market voluntarily.

In September 2014, the New Jersey Casino Control Commission voted unanimously to allow MGM Resorts to re-enter the Atlantic City casino market.

On May 31 this year, MGM Resorts said it had entered into an agreement to acquire Boyd Gaming Corp’s 50 percent interest in the Borgata.

On Wednesday the Casino Control Commission voted 3-0 to approve lease agreements needed for the sale that will give MGM Resorts full control of the property.

Boyd will receive a consideration of US$900 million, plus half of any future tax settlement MGM Resorts reaches with Atlantic City, reported AP.


  • tweet
Related articles
  • Miriam Adelson richest casino boss, Lawrence Ho off Forbes
    Miriam Adelson richest casino boss,...

    Apr 06, 2022  

  • Osaka prefectural assembly nods IR plan
    Osaka prefectural assembly nods IR plan

    Mar 24, 2022  

More news
  • Maybe new Macau mass Covid test, community spread still
    Maybe new Macau mass Covid test,...

    Jun 24, 2022  

  • Blackstone clinches US$6.15bln takeover of Crown Resorts
    Blackstone clinches US$6.15bln takeover...

    Jun 24, 2022  


Latest News

Maybe new Macau mass Covid test, community spread still

Maybe new Macau mass Covid test, community spread still

Jun 24, 2022  

It is likely that Macau will shortly have a third round of citywide centre-based Covid-19 testing in little more than a week, after the results so far of a second mass test – that was due to finish...
Read More
Blackstone clinches US$6.15bln takeover of Crown Resorts

Blackstone clinches US$6.15bln takeover of Crown Resorts

Jun 24, 2022  

Jeju still studying online gaming for its casinos: govt

Jeju still studying online gaming for its casinos: govt

Jun 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$5.8 million

Amount that each Macau casino operator paid for the circa six-month extension of their respective contract



Most Popular

  • Maybe new Macau mass Covid test, community spread stillMaybe new Macau mass Covid test, community spread still June 24, 2022
  • Blackstone clinches US$6.15bln takeover of Crown ResortsBlackstone clinches US$6.15bln takeover of Crown Resorts June 24, 2022
  • Alvin Chau, Suncity trial set for September 2: courtAlvin Chau, Suncity trial set for September 2: court June 20, 2022
  • Jeju still studying online gaming for its casinos: govtJeju still studying online gaming for its casinos: govt June 24, 2022
  • Macau ops sign contract extension, eye fresh public tenderMacau ops sign contract extension, eye fresh public tender June 23, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us