It’s a good bet MGM MIRAGE will retain its New Jersey gaming license although it is an equally good bet the company will not be an operator there any time soon.
MGM partners with Boyd Gaming in the Borgata but Boyd is the operator.
Let’s face it, no one will build anything big anywhere in the next several years. Financial markets remain largely hostile to big casino projects. But that is a story for another day.
Getting back to MGM and its New Jersey issues… Reliable but unofficial indicators point toward the New Jersey Casino Control Commission having lost whatever appetite it once had for beating up on licensees and applicants who are guilty of anything less than the most egregious offenses.
What this means is that the roughly five-year-old investigation by New Jersey’s Division of Gaming Enforcement of Pansy Ho – her dad Stanley needs no introduction – will probably result in nothing more than a possible slap on the wrist during a hearing before the Casino Commission based on the DGE recommendation later this year.
By the time the lawyers for all sides have done their thing, so to speak, the Commission will decide there is nothing to be gained (for New Jersey) by forcing MGM to make a decision that might once and for all remove it from Atlantic City.
It will not be the result some hardliners expected, but the world is a different place than it was two or three years ago, even if the DGE has not noticed that.
Question? Comment? E-mail me at: Phil Hevener