News this morning that Boyd Gaming will decline their opportunity to purchase the other half of Borgata, currently owned by MGM Resorts Intl. and held in trust. Boyd is the managing partner of Borgata.
Frankly I'm a little surprised - they only had to cough up $250MM and it's not even worth that to them? Clearly the macro trend of the city weights heavily on this decision.
This moves the process along a bit for MGM for whom the asset is tied up in a trust following action by the New Jersey Casino Control Commission.