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MGM Resorts is a step closer to regaining N.J. gaming license

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MGM Resorts International has agreed to a settlement with the New Jersey Division of Gaming Enforcement that could enable it to regain its state gaming license, according to a published report.

The Las Vegas Review-Journal said Tuesday that MGM and Tracinda Corp., the investment arm of company founder Kirk Kerkorian, will pay a combined $225,000 to resolve a 2006 criminal case that involved Los Angeles attorney Terry Christensen, a former MGM board member and Kerkorian’s personal attorney. The company allegedly consulted with Christensen on various matters in the years following his 2006 resignation from the board. Christensen was charged in a 2006 wire tapping case, and eventually convicted and sent to prison.

According to the July settlement, MGM Resorts will pay $150,000, while Tracinda will pay $75,000, in lieu of a formal complaint being filed, according to the newspaper.

“MGM and Tracinda have agreed to pay in recognition of the seriousness of the failures to address Christensen’s ongoing and continued involvement in their affairs following first his indictment and then his conviction,” Division of Gaming Enforcement Director David Rebuck wrote in a letter to MGM Resorts’ Atlantic City attorneys, the Review-Journal reported.

MGM Resorts hopes for a September resolution to the case, the newspaper said.

It also wrote that MGM Resorts has been attempting since last year to regain its New Jersey gaming license, which it surrendered in 2010. Then, state regulators wanted the company to end its relationship with a Macau business partner, Pansy Ho, because of her family’s alleged Chinese crime ties. MGM placed its 50 percent ownership of the Borgata casino into a trust while it attempted a sale; that sale never took place.

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