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by Lisa A. Grimaldi | September 18, 2012

The New Jersey Casino Control Commission has okayed a deal between Mohegan Gaming Advisors and Atlantic City's Resorts Casino Hotel. Under the agreement, MGA will take over all day-to-day operations of Resorts for a five-year period, in addition to acquiring a 10 percent ownership interest in the casino-hotel complex. The measure marks the first time a Native American entity has become involved in the ownership and operation of an Atlantic City casino. MGA is a subsidiary of the Mohegan Tribal Gaming Authority, which owns the Mohegan Sun casino resort complex in Uncasville, Conn., and Mohegan Sun at Pocono Downs in Wilkes-Barre, Pa. "The ability to cross-market the property with Mohegan’s properties in Connecticut and Pennsylvania will be a very valuable tool to strengthen Resorts' financial position and to bring in new visitors," said commission chairman Matthew Levinson.