Atlantic City might be a financial basket case, and the remaining seven casinos there may be struggling to maintain their share of gaming revenues on the east coast, but MGM Resorts ‘(NYSE: MGM) buyout of its joint venture partner Boyd Gaming (NYSE: BYD) for full control of the Borgata may just be one of the casino operator’s best moves yet.
Away from Atlantic City’s famed boardwalk, the Borgata reigns supreme as the biggest and best casino. Image source: Borgata.
Don’t leave the boardwalk
New Jersey has taken control of Atlantic City’s day-to-day operations because it is essentially bankrupt and can’t repay its $500 million debt. The city won’t be officially declared insolvent, though; instead, the …
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