Morgan Stanley (MS) is bailing out of a troubled Atlantic City casino project where it's...

|About: Morgan Stanley (MS)|By:, SA News Editor

Morgan Stanley (MS) is bailing out of a troubled Atlantic City casino project where it's essentially the sole backer, planning to sell its $1.2B stake, according to an 8-K it filed. The bank has also finalized a joint venture with Mitsubishi UFJ (MUFG) to integrate Japan operations.