MGM Mirage Trouble

The Mirage of Las Vegas is in the beginning phase of its public offering on the stock exchange of Hong Kong. If this listing brings in the 1 billion expected, it just might keep casino operator from bowing out of the gaming market in Atlantic City. The CEO said they are exploring other avenues with the thought of selling shares of the Grand Macau that is 50% owner of.
Businesswoman Pansy Ho, the daughter of Macau kingpin Stanley Ho, wold than be more involved with the move. Severing ties with Pansy is what the New Jersey gaming authorities want the Mirage to do because they feel her father is connected with organized crime in China. New Jersey feels she, as a business partner, is not a suitable thing.
It was the tanking of the economy that stopped construction of the MGM Grand Atlantic City on a vacant site back in 2007. The construction would have cost 5 billion dollars. You could say there is another nail in the coffin form Atlantic City will Mirage out the door which give another point to Macau.