MGM Mirage has defended its business relationship with Pansy Ho, daughter of Macau casino magnate Stanley Ho, following allegations of her connection to organised crime.
The US-based operator’s agreement with the New Jersey Division of Gaming Enforcement to sell its 50 per cent stake in the Borgata Hotel Casino and Spa in Atlantic City was approved on Wednesday. MGM had previously clashed with the DGE over the suitability of Ho as a business partner.
"The DGE’s report acknowledges there is no evidence that Pansy Ho has engaged in any wrongdoing or been accused of any illegal activity," said Jim Murren, chairman and chief executive officer of MGM Mirage.
"Gaming regulators in other jurisdictions where we operate casinos are well aware of this matter, had access to the same information as the New Jersey gaming regulators and have all either determined that the company’s relationship with Pansy Ho is appropriate or that further action was not necessary.
"MGM Mirage structured its business relationship with Pansy Ho to ensure the highest standards of operation and compliance with all applicable gaming laws and to protect against any improper influence.
"We have had a very positive working relationship with Pansy Ho and have a spotless operating record at MGM Grand Macau, which opened more than two years ago. We are the only operator in Macau with a fully independent compliance committee and our joint venture meets the highest standards of good governance."
