Tuesday February 12,2013 : MGM RE-APPLIES FOR NEW JERSEY LAND LICENCE
Speculation that Las Vegas giant is laying the groundwork for online operations
According to reports on North Jersey.com, Nevada-based MGM Resorts International is making a bid with the New Jersey Casino Control Commission gaming authorities to re-acquire a land casino licence in the Garden State.
The company's previous licence was lost in 2010 when New Jersey regulators found Pansy Ho, one of the firm’s business partners in Macau, to be unsuitable due to concerns over her father’s alleged links to organised crime.
MGM has since addressed this, saying that it has “taken a controlling interest in MGM Macau’s parent company MGM China Holdings and that MGM China Holdings is now listed on the Stock Exchange of Hong Kong.” Ho’s stake has since been reduced and her influence diminished.
MGM's application to re-licence has triggered speculation that it has no intention of being left out of the online gambling gold rush that could develop once Gov. Chris Christie signs a pending online gambling legalization measure into state law.
The new law will restrict online gambling operations to Atlantic City servers owned by existing licensed land operators, and MGM has an internet partnership agreement in place with European giant Bwin.Party.
MGM has a fifty percent interest in the Atlantic City b and m casino Borgata.