Jersey : Just Say No To Pansy Ho
Looks like those fancy renderings of the proposed MGM Grand Atlantic City (the third time) didn't persuade New Jersey Casino Control Commission to rubber stamp approval of MGM Mirage's partnership with Pansy Ho.
For those who don't know, Pansy Ho (center) is the daughter of Macau gaming tycoon Dr. Stanley Ho, and brother of Melco Crown CEO Lawrence Ho... the three of which own/operate the majority of casinos in Macau. Dr. Ho held monopoly over Macau's casino industry for almost a half century until the government opened up gaming concessions to other operators in 2001.
At issue is MGM Mirage's partnership with Pansy Ho (dba MGM Grand Paradise) in MGM Grand Macau. Pansy Ho, along with her dad, have long been accused of being in cahoots with Chinese organized crime outfit, The Triads.
New Jersey regulators have recommended that MGM Mirage end its partnership with Pansy Ho immediately... i.e. sell their stake in the lucrative Macau gaming market or potentially risk losing their license to operate in New Jersey. MGM Mirage holds half ownership of Borgata with partner Boyd Gaming.
Looks like decision time again for MGM Mirage.
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