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Connecticut tribe, MGM Mirage in talks

ATLANTIC CITY, New Jersey – As reported by the Press of Atlantic City: "The American Indian tribe that struck it rich in the 1990s with the opening of the Foxwoods casino in Connecticut may build an Atlantic City casino in partnership with gaming giant MGM Mirage.

"A new casino by the Mashantucket Pequot Tribal Nation is being discussed for a 14-acre site owned by Las Vegas-based MGM next to Trump Marina Hotel Casino in the city's Marina District, the rapidly growing casino cluster that includes Borgata Hotel Casino & Spa and Harrah's Atlantic City.

"The proposed casino is mentioned in an April 24, 2006, memorandum of agreement for joint projects between the Pequots and MGM in Connecticut, Atlantic City and Las Vegas. MGM will invest as much as $200 million to finance a portion of the tribe's involvement in the projects through a venture called Foxwoods Development Co.

"…MGM and the Pequots originally announced their plans for joint ventures in April, but at that time no specific sites were publicly discussed for Atlantic City. Their plans for a casino in the Marina District surfaced recently in a court fight over the land between MGM and a New Jersey developer that tried buying the property for $22 million…"

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