MGM Mirage has confirmed it will unload its stake in a US casino resort to settle a fight with US gaming regulators over the company’s Macau business partner.

MGM said it will sell its half stake in the Borgata hotel-casino in Atlantic City within the next 30 months to keep a joint venture in the glitzy Asian gambling hub, which has now leapfrogged Las Vegas in terms of gaming revenue.

New Jersey’s gaming regulator in May told MGM to cut ties with Pansy Ho, daughter of gaming tycoon Stanley Ho, after deeming her “unsuitable” because of the elder Ho’s alleged links to Macau’s underworld.

Ho, who controlled Macau’s gaming sector until it opened to foreign competition in 2002, has denied any ties to organised crime.[Read More]