By The Weekly Edge desk ·
Casino.org News reported that Atlantic City Council considered extending payment-in-lieu-of-taxes treatment to proposed housing on MGM land beside Borgata. The city’s casino property tax programme is tied to gross gaming revenue.
The proposal would extend the tax arrangement to a non-gaming development on casino-owned land.
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The agreements impose payments on MGM Resorts International and CountR for licensing breaches in Pennsylvania.
MGM's late licensing application drew a $50,250 penalty, while CountR agreed a $50,000 settlement over licensing violations.
MGM’s $50,250 penalty highlights the financial consequences of a late principal licensing application.
Orix sees sustained demand and recurring cash potential in MGM Osaka, which MGM Resorts reports remains within schedule and budget.
Orix’s assessment gives investors its expectations for sustained demand and steady cash flows from MGM Osaka.
People Inc.’s withdrawal ends its proposed $18bn acquisition of all publicly held MGM shares.