MGM Resorts International, one of the leading casino and entertainment companies in the world, has filed a lawsuit against the Federal Trade Commission (FTC) alleging antitrust violations. The lawsuit, filed in federal court in Washington D.C., accuses the FTC of unfairly targeting the company and attempting to stifle competition in the casino and gaming industry.
The legal action comes after the FTC launched an investigation into MGM Resorts International’s proposed acquisition of a popular casino in Las Vegas. The company had planned to purchase the casino in a deal valued at over $1 billion, but the FTC raised concerns about the potential impact on competition in the region.
MGM Resorts International argues that the FTC’s investigation is baseless and is an attempt to hinder its growth and expansion in the highly competitive industry. The company claims that the FTC’s actions are in violation of antitrust laws and are motivated by a desire to protect other players in the market.
In a statement released to the press, MGM Resorts International’s CEO, James Murren, said, “We believe that the FTC’s investigation is unjustified and is an attempt to unfairly target our company. We have always maintained a strong commitment to fair competition and we are confident that our proposed acquisition is in the best interest of consumers and the industry as a whole.”
The lawsuit seeks to prevent the FTC from blocking the acquisition and to seek damages for any harm caused to MGM Resorts International as a result of the investigation. The company is also seeking an injunction to prevent the FTC from interfering with its operations in any way.
The legal battle between MGM Resorts International and the FTC is expected to be closely watched by industry analysts and competitors. The outcome of the case could have significant implications for the future of the casino and gaming industry, as well as the broader business community.
In response to the lawsuit, a spokesperson for the FTC stated, “We are committed to enforcing antitrust laws and protecting competition in all industries, including the casino and gaming industry. We will vigorously defend our actions in this case and continue to work in the best interests of consumers.”
As the legal proceedings unfold, the casino and gaming community will be watching closely to see how this high-profile case will impact the future of MGM Resorts International and the industry as a whole.