MGM Resorts Pays $225,000 Settlement to nj

MGM Resorts Pays $225,000 Settlement to nj

Terry Christensen, former board member of MGM Resorts, imprisoned in 2006 for their part in wire-tapping

MGM Resorts Overseas is wanting to regain a New Jersey video gaming license for the time that is first 2010, when it attempted to sell its stake within the Borgata and ceased operations in their state.

It’s been announced this week that the company will pay a $225,000 settlement to New Jersey regulators to resolve a decade-old problem relating towards the shady transactions of its board members.

Since well as serving on the MGM board for nine years, attorney Terry Christensen ended up being a 40-year adviser that is legal personal confidant to billionaire casino mogul Kirk Kerkorian, the business’s major shareholder.

Christensen was president of Tracinda, a personal investment company set up by Kerkorian, in 1987, in which he had also assisted set up MGM Grand Air and MGM Grand Corp.

However, in 2006 he was indicted and charged, with celebrity private investigator Anthony Pellicano, with bugging the phone of Lisa Bonder, Kerkorian’s ex-wife. Christensen received a prison that is three-year while Pellicano got 15 years.

However, the beef with the New Jersey Division of Gaming Enforcement (DGE) appears to be that MGM continued to consult Christensen on a quantity of matters after his resignation from the company’s board and subsequent criminal conviction.

Under New Jersey Gaming legislation no body with a criminal conviction may b Continue reading “MGM Resorts Pays $225,000 Settlement to nj”

Atlantic City Trump Plaza Likely to Close in September

Atlantic City Trump Plaza Likely to Close in September

Trump Plaza’s shutdown will mean that as four Atlantic City casinos could possibly be closed this year. (Image: Lisa Andres/Flickr)

The casino industry of Atlantic City is presently facing an unprecedented freefall. After years of declining revenues, at least two casinos have already closed or plan to close this present year, and another is facing a second bankruptcy in couple of years. And now, a fourth has stated that they also expect to shut down in only a months that are few.

That’s the fate that is apparent of Trump Plaza casino, as Trump Entertainment Resorts has said that they anticipate the venue to close on September 16. While the owners reportedly said that the decision isn’t entirely final, employees were to get warnings associated with the anticipated closing on previously this week.

‘Although [the] review hasn’t been completed and no ultimate decision is made, the business expects so it will end the operations of Trump Plaza Hotel and Casino on or shortly after September 16, 2014,’ the business told the Associated Press.

Trump Plaza Joins Other AC Closures

If the closure goes through as expected, the effect could be that as many as a third of Atlantic City’s casinos could close this year down. In January, the Atlantic Club shuttered its doors, while the Showboat is likely to close in August. Meanwhile, the Revel happens to be in bankruptcy court for the time that is second and might potentially shut if Continue reading “Atlantic City Trump Plaza Likely to Close in September”