New Jersey Gaming Regulators have driven MGM Mirage out of their fledgling casino industry mainly because they have convicted Pansy Ho of being guilty by association.
MGM Mirage was pushed into a corner by gaming regulators in New Jersey, and instead of conforming to the regulators’ request to drop Pansy Ho as their partner, MGM has decided to leave the Atlantic City gambling industry.
The last thing the Atlantic City casino industry needed was a harsh winter, but that is exactly what it got. Consequently, revenue continued to tumble at the city’s eleven casinos in February.
Carl Icahn has become well-known for his acquisitions of bankrupt casinos in Atlantic City and this week he can add another property to his name. Icahn has won the rights to purchase the Tropicana Casino and Resort.
As if the recession was not enough, the Atlantic City casino industry has had to endure a Winter with unusually high amounts of snow in New Jersey, causing millions of dollars in revenue loss.
