MGM Resorts International (MGM) Wins Eviction Rights
After two years of legal battles and false accusations, MGM Resorts International (MGM: 10.09 +0.20%) has won the right to evict nightclub owner Rumjungle from the Mandalay Bay Resort and Casino.
The owners behind the nightclub have been forced out, following a judge’s ruling that Rumjungle did not show ample reasons why rent payments were withheld from MGM and that the opening of the Evecandy Lounge did not violate the lease contract and should not have caused financial issues for the club.
Earlier this year, Rumjungle filed for bankruptcy protection in an attempt to delay its eviction, however MGM was able to have the case dismissed proving that their claims were invalid.
The eviction is costing MGM $100,000 in bond, which the judge ordered the gaming giant to put up as security. R