NJ Regulators Green Light MGM’s Borgata Purchase

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Published reports Thursday out of the Garden State indicate that MGM Resorts International’s purchase of Boyd Gaming’s 50 percent stake in Atlantic City’s top casino is okay with regulators in New Jersey.

“The Casino Control Commission on Wednesday voted 3-0 to approve lease agreements needed for the sale that will give MGM full control of the property,” reports the AP, noting that Boyd will secure $900 million in addition to 50% of any future tax settlement MGM secures with Atlantic City.

The deal is expected to close in Q3 of this year. With that reality now looming, MGM will maintain ownership of all of the Borgata before 2016 comes to an end.

To read the full report out of New Jersey, click here.

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