MGM Resorts Looks To Re-Enter New Jersey In Possible Internet Gaming Move
Firm Wants State Regulators To Reinstate Its License
In the wake of last week’s historic decision by New Jersey Gov. Chris Christie, at least one major player has apparently repositioned their chips to get in on the future action.
Is MGM Resorts International now eying a piece of the New Jersey online gambling market?
The company announced Monday that it has filed a petition with the New Jersey Casino Control Commission to reapply for a brick-and-mortar gaming license in the state.
MGM lost its licensee status in Atlantic City after 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 organized crime. New Jersey regulators have a history of being stricter than those in other states, as MGM does business across the United States.
The company said that since the adverse 2010 finding 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, according to reporting by The Wall Street Journal.
“MGM Resorts International is, and always has been, committed to the highest standards of operation and regulatory compliance,” MGM said in a statement. “If our petition is successful we would welcome the opportunity to once again be an active, contributing member of the New Jersey gaming marketplace through our 50-percent ownership of Borgata.”
Before being kicked out, MGM had planned for a new casino there — dubbed “MGM Grand Atlantic City” — but that project fell through after the licensing difficulties.
The company would need a brick-and-mortar casino license in order to run an online casino. MGM is already licensed for online gaming in Nevada and would offer its new Internet product through a partnership with Bwin.Party Digital Entertainment — owner of PartyPoker.
MGM’s move could create a battleground for Bwin and PokerStars, which is in the process of acquiring The Atlantic Club Casino Hotel in order to eventually offer online poker from New Jersey. Web games are to be restricted to New Jersey residents, but would eventually be available to those in other jurisdictions where the activity is also licensed and regulated.
|1||Resorts World Las Vegas Construction To Begin In May|
|2||Online Poker: Ben Tollerene Wins $232K|
|3||Online Poker Hearing Dismays Poker Community|
|4||Gunmen Rob Chicago Poker Game, Police Say|
|5||Poker Hand of the Week: What's Your Play?|
|6||Nick Weinberg Wins Card Player Poker Tour Atlantis|
|7||Jean Montury Wins First Ever EPT Malta Main Event|
|8||'Tortured' Revel Situation Could Be Resolved Soon|
|9||Win WSOP Seats With Americas Cardroom|
|10||Win WSOP Colossus Seat With Card Player Poker|
|1||Mike Sexton 'Calls Out' The World Series Of Poker|
|2||Salomon Won $40M Last Year Playing Poker: Report|
|3||WSOP Prepares For 24K Entries In Colossus|
|4||Judge Denies Ivey's Request To Dismiss Borgata Case|
|5||Poker Player Gets 2-3 Years In Prison For Fatal Punch|
|6||Illinois Man Steals $420K In Poker Chips: Police|
|7||Poker Player Robbed Bank After Losing Everything|
|8||Billionaire Accused Of Not Paying Casino Marker|
|9||Cancer Surgery Successful, Doyle Brunson Says|
|10||Man Who Was Trying To Rob Poker Game Shot Dead|