Boxing promoter Bob Arum has been cleared to resume doing business with Atlantic City casinos Wednesday, more than 18 months after the state of New Jersey threatened to revoke his license.

Without debate, the state Casino Control Commission voted unanimously, 4-0, to approve a settlement under which Arum admitted to conduct constituting commercial bribery.

The agreement with the state Division of Gaming Enforcement settled a complaint filed after Arum testified that he paid former International Boxing Federation chairman Robert W. Lee 100-thousand dollars to sanction a 1995 fight between American George Foreman and Axel Schulz of Germany.

Arum was never charged criminally. But his testimony in the case caught the attention of New Jersey Division of Gaming Enforcement investigators, who said Arum's conduct constituted the equivalent of bribery and was grounds for revocation of his casino service industry license.