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Marina District Development
The Marina District Development Company, LLC was a joint venture of Boyd Gaming Corporation and MGM Resorts International that was established to develop and operate the Borgata Hotel Casino and Spa in Atlantic City, New Jersey. History After a competitive process, MGM Mirage was selected as the lead developer of government-owned vacant property in the "H-Tract" area, later renamed Renaissance Pointe. MGM Mirage sought the participation of Boyd Gaming, which became the operating partner of the Borgata. Three casino-hotels were planned for Renaissance Pointe but only the Borgata has been built. In early 2010, following the conclusion of an investigation by the New Jersey Casino Control Commission and the Division of Gaming Enforcement into the company's suitability as a casino licensee, executives at MGM announced that they would place their shares in MDDC into a special trust until they find a suitable buyer. In their investigation, the NJCCC and DGE alleged that Macau businessw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Liability Corporation
A limited liability company (LLC for short) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC). An LLC is a hybrid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Partnership
A partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract. History Partnerships have a long history; they were already in use in medieval times in Europe and in the Middle East. According to a 2006 article, the first partnership was implemented in 1383 by Francesco di Marco Datini, a merchant of Prato and Florence. The Covoni company (1336-40) and the Del Buono-Bencivenni company (1336-40) have also been referred to as early partnerships, but they were not formal partnerships. In Europe, the partnerships contributed to the Commercial Revolution which started in the 13th centur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MGM Resorts International
MGM Resorts International is an American global hospitality and entertainment company operating destination resorts in Las Vegas, Massachusetts, Detroit, Mississippi, Maryland, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and Park MGM. The company began operations in 1987 as MGM Grand, Inc. and became MGM Mirage in 2000, after acquiring Mirage Resorts. In the mid-2000s, growth of its non-gaming (lodging, food, retail) revenue began to outpace gaming receipts and demand for high-rise condominiums was surging, with median property prices in Las Vegas twice the national average. The company shifted its focus from owning and operating resorts and casinos to developing and building real estate in the leisure and gaming industry—launching the massive CityCenter mixed-use project, which was at the time of its construction the world's largest construction site and ranks as one of the most expensive real estate projects in history. City Center's development coincided wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Borgata
Borgata Hotel Casino & Spa is a hotel, casino, and spa in Atlantic City, New Jersey. It is owned by Vici Properties and operated by MGM Resorts International. The casino hotel features 2,798 rooms and is the largest hotel in New Jersey. Borgata opened in July 2003 and is the top-grossing casino in Atlantic City. History Borgata was part of a major project in Atlantic City nicknamed "The Tunnel Project", started around 1999. When Steve Wynn planned the Le Jardin in Atlantic City, he wanted to connect a $330 million tunnel from the Atlantic City Expressway to the new resort, later named the Atlantic City-Brigantine Connector, which would funnel incoming traffic off the Atlantic City Expressway into the city's marina district. This caused major controversy, as it would cut through a residential neighborhood; competitor Donald Trump sued Wynn for it saying that it was a "driveway" to Wynn's casino. The Tunnel Project did progress, even after Le Jardin was cancelled, and finally op ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Atlantic City, New Jersey
Atlantic City, often known by its initials A.C., is a coastal resort city in Atlantic County, New Jersey, United States. The city is known for its casinos, boardwalk, and beaches. In 2020, the city had a population of 38,497.QuickFacts Atlantic City city, New Jersey . Accessed November 9, 2022. It was incorporated on May 1, 1854, from portions of and [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boyd Gaming
Boyd Gaming Corporation is an American gaming and hospitality company based in Paradise, Nevada. The company continues to be run by founder Sam Boyd's family under the management of Sam's son, Bill Boyd (born 1931), who currently serves as the company's executive chairman after retiring as CEO in January 2008. As of 2021, Boyd operates 28 properties with a total of 10,751 hotel rooms and of casino space with 31,635 slot machines and 686 table games. Gaming revenue is 80% of total gross revenue. History Boyd Gaming's history dates to 1941, when founder Sam Boyd first arrived in Las Vegas with his family. After being hired as a dealer, Sam Boyd worked his way up through the ranks of the Las Vegas casino industry, first to pit boss, then shift boss. He eventually saved enough to buy a small interest in the Sahara Hotel and Casino; later, Sam Boyd left the Sahara to become general manager and partner of The Mint Las Vegas. Sam Boyd first partnered with his son Bill in 1962, when ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint Venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly Emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. According to Gerard Baynham of Water Street Partners, there has been much negative press about joint ventures, but objective data indicate that they may actually outperform wholly owned and controlled affiliates. He writes, "A different narrative emerged from our recent analysis of U.S. Department of Commerce (DOC) data, collected from more than 20,000 entities. According to the DOC data, foreign joint ventures of U.S. companies realized a 5.5 percent average return on assets (ROA), while those companies’ wholly owned and controlled affiliates ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boyd Gaming Corporation
Boyd Gaming Corporation is an American gaming and hospitality company based in Paradise, Nevada. The company continues to be run by founder Sam Boyd's family under the management of Sam's son, Bill Boyd (born 1931), who currently serves as the company's executive chairman after retiring as CEO in January 2008. As of 2021, Boyd operates 28 properties with a total of 10,751 hotel rooms and of casino space with 31,635 slot machines and 686 table games. Gaming revenue is 80% of total gross revenue. History Boyd Gaming's history dates to 1941, when founder Sam Boyd first arrived in Las Vegas with his family. After being hired as a dealer, Sam Boyd worked his way up through the ranks of the Las Vegas casino industry, first to pit boss, then shift boss. He eventually saved enough to buy a small interest in the Sahara Hotel and Casino; later, Sam Boyd left the Sahara to become general manager and partner of The Mint Las Vegas. Sam Boyd first partnered with his son Bill in 1962, whe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Borgata Hotel Casino And Spa
Borgata Hotel Casino & Spa is a hotel, casino, and spa in Atlantic City, New Jersey. It is owned by Vici Properties and operated by MGM Resorts International. The casino hotel features 2,798 rooms and is the largest hotel in New Jersey. Borgata opened in July 2003 and is the top-grossing casino in Atlantic City. History Borgata was part of a major project in Atlantic City nicknamed "The Tunnel Project", started around 1999. When Steve Wynn planned the List of Atlantic City casinos that never opened#Le Jardin, Le Jardin in Atlantic City, he wanted to connect a $330 million tunnel from the Atlantic City Expressway to the new resort, later named the Atlantic City-Brigantine Connector, which would funnel incoming traffic off the Atlantic City Expressway into the city's marina district. This caused major controversy, as it would cut through a residential neighborhood; competitor Donald Trump sued Wynn for it saying that it was a "driveway" to Wynn's casino. The Tunnel Project did p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Jersey Casino Control Commission
The Casino Control Commission is a New Jersey state governmental agency that was founded in 1977 as the state's Gaming Control Board, responsible under the Casino Control Act for licensing casinos in Atlantic City. The commission also issues licenses for casino key employees and hears appeals from decisions of the New Jersey Division of Gaming Enforcement. The commission is headquartered in the Arcade Building at Tennessee Avenue and Boardwalk in Atlantic City. On November 15, 2010, State Senators James Whelan (D-2nd) and Raymond Lesniak (D-20th) introduced Senate Bill S12 to change the New Jersey Casino Control Act and deregulate the Atlantic City casino industry to improve competitiveness with casinos in other states. The bill would also transfer day-to-day regulatory functions from the Casino Control Commission to the Division of Gaming Enforcement. After hearings in both houses of the Legislature, the bill was approved on January 10, 2011, and signed into law by Governor Chr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pansy Ho
Pansy Catalina Ho Chiu-king (; born 26 August 1962) is a Hong Kong-Canadian billionaire businesswoman who is the daughter of Macau-based businessman Stanley Ho, and the managing director of various companies he founded, including Shun Tak Holdings. Pansy has major interests in two of the six casino licence-holders in Macau. She was named 25th on Forbes’ list of Hong Kong’s 50 richest people in 2021 with an estimated fortune of HK$31.8 billion (US$4.1 billion), and the 2nd richest woman in Hong Kong. Early life and education Pansy Ho was born on 26 August 1962, the eldest of five children of Stanley Ho and Lucina Laam King Ying. She has three sisters, one brother and twelve half-siblings. Her second sister Daisy is the Chairman of SJM Holdings, her third sister Josie is a singer, and her brother Lawrence is also a businessman. She attended an all-girls high school Castilleja School in Palo Alto, California and went on to attend Santa Clara University, graduating with a bac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
