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ATLANTIC CITY, N.J. — MGM Resorts International has sold land under Atlantic City’s Borgata Hotel Casino & Spa to Vornado Realty Trust and Geyser Holdings for $73 million.
The sale covers just over 11 acres and involves ground leases and the land on which part of the Borgata sits. MGM is selling its half interest in the Borgata following an ultimatum from New Jersey casino regulators that it sell its 50 percent stake in Atlantic City’s top casino, or cut ties with Pansy Ho, its partner in a casino in Macao.
