Wednesday, August 14, 2013

Former Director's Wiretapping Conviction Could Spoil MGM's Licensing Bids

On Tuesday, the Wall Street Journal’s Alexandra Berzon reported that MGM is getting a hard look from regulators regarding former board member Terry Christensen, who resigned after being indicted in 2006 (and convicted in 2008) for his involvement in the illegal wiretapping of the ex-wife of billionaire Kirk Kerkorian, who currently holds 18.6% of MGM’s stock via his investment firm Tracinda Corp.

...sources said the Christensen matter could be a “potentially significant issue” for regulators pondering MGM’s pending licensing efforts not only in New Jersey, but also in Massachusetts and Maryland. (more)