MGM Mirage and Chinese Organized Crime

Written by:
Jagajeet Chiba
Published on:

The Daily News has reported that one of six bidders to run a Las Vegas-style video slots emporium in Queens has ties to Chinese organized crime. MGM Mirage is one of six groups bidding on the Aqueduct project at the same time New Jersey is considering forcing the company to divest its 50% stake in the Borgata Hotel Casino & Spa in Atlantic City, the Daily News reports.

MGM is in a partnership agreement in Macau with Patsy Ho, daughter of that Chinese casino resort's gambling magnate Stanley Ho. 

The Daily News writes:

The billionaire has never been charged and has vehemently denied such ties.

In a recent report, the New Jersey attorney general's Division of Gaming Enforcement recommended MGM's partnership with Pansy Ho be found "unsuitable," according to the company's filing with the Securities Exchange Commission.

The report, which is confidential, recommends MGM Mirage be forced to "disengage" itself from any business association with Ho and calls for a hearing on its Borgata license.

Stanley Ho, who is 87, recently underwent brain surgery.

Jagajeet Chiba, 

Business/Financial News

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