Borgata Casino Hotel and Spa, Atlantic City. Photo by: Anthony Smedile
Las Vegas gaming giant MGM Resorts International says it has received an offer of about $250 million for its 50 percent share of Borgata Hotel Casino & Spa.
MGM made the announcement Tuesday but did not disclose the name of the would-be buyer. Boyd Gaming Corp., which owns the other half of the Borgata, has the right of first refusal to purchase MGM’s share.
MGM noted its board of directors will submit the offer to Boyd for its review. Boyd spokesman Rob Meyne declined to comment on whether the company would match the offer.
MGM did not divulge the exact amount of the offer, saying it was “slightly in excess of $250 million.”
Click here to read the full story…
Click here to receive SNJDC’s Afternoon Break, a South Jersey business news aggregate mailed directly to your inbox!