MGM Int looking for more time to sell property in New Jersey

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MGM Resorts International is looking to extend the deadline to sell its 50 percent stake in Atlantic City’s Borgata hotel casino. This is part of a settlement agreement reached with New Jersey gaming authorities in 2010 for MGM to divest itself from that jurisdiction. The deal was the company’s solution to settle an investigation by New Jersey regulators into the suitability of Pansy Ho Chui King, its partner in Macau in MGM China Holdings gaming operator. The company is trying to extend the deadline to sell the property by 18 months, to a total of 48 months, until October 2014.