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MGM Resorts International News
Casinos selling for bargains in Nevada, Atlantic City
18 Oct 2010
The recession and falling revenues have have devalued casinos. Penn National picked up M Resort's debt for 23 cents on the dollar and will wait out a Las Vegas recovery. Across the country Resorts Atlantic City was sold to gaming veteran Dennis Gomes for $35 million, the lowest price ever paid for a New Jersey casino.
MGM hopes to raise over $500 million through stock sale
13 Oct 2010
MGM Resorts International says it hopes to raise almost $517.4 million through a stock offering that was announced yesterday.
Analyst downgrades MGM Resorts International
12 Oct 2010
A Hudson Securities gaming analyst is predicting trouble for MGM Resorts International because of the company's $13 billion long-term debt.
Shares rise after Macau gambling revenue increases
4 Oct 2010
Casino owners see shares rise, as revenue increases in Macau.
Gaming stocks see gains in September
4 Oct 2010
Eight of 10 publicly traded casino operators and slot machine manufacturers experienced increases in their average daily stock prices.
MGM Resorts aims to pay off debt
4 Oct 2010
MGM Resorts Chairman and CEO Jim Murren said paying down debt has become the primary mission of the company.
MGM Resorts moves towards Hong Kong IPO
27 Sep 2010
MGM Resorts International took its first steps toward an IPO on the Hong Kong Stock Exchange by filing a proposed listing application on Monday.
Casino operators try to beat the burden
7 Sep 2010
Major casino operators like MGM Resorts International, Las Vegas Sands and Harrah'S Entertainment have avoided bankruptcy, but still must deal with debt.
Stanley Ho still king in Macau
7 Sep 2010
Despite the emergence of competition from Las Vegas Sands, Wynn Resorts and MGM Resorts International, Stanley Ho's 18-property casino operation continues to flourish.
Dubai World may sell CityCenter stake
27 Aug 2010
Dubai World, which owns 50 percent of CityCenter, may be looking to sell its stake in the casino operator to pay down more than $14.4 billion of bank debt.
MGM reports $883 million net loss
3 Aug 2010
The Las Vegas-based casino giant said its second quarter net loss was $883 million compared to a loss of $212 million in the same quarter last year.
Casino industry outlook still uncertain
30 Jul 2010
Moody's Investors Service said there is a "high degree of uncertainty" over how much gaming trends will improve through the end of the year.
Shareholders approve of MGM Mirage name change
16 Jun 2010
Shareholders of MGM Mirage approved a proposal at their annual meeting that will change the company's name to “MGM Resorts International.”
MGM Mirage, Sands, Wynn stocks decline slightly
4 Jun 2010
The stock prices for MGM Mirage, Las Vegas Sands and Wynn Resorts all showed slight declines in May.
MGM Mirage says it is paying CityCenter subcontractors
4 Jun 2010
The casino giant says it has begun the process of paying subcontractors involved with the construction of the CityCenter project in Las Vegas.
MGM Mirage launches five iPhone apps
1 Jun 2010
The five free applications are dedicated to Las Vegas and allow gamers to review casinos, learn rules of the game, and log into the Player’s Club to earn rewards.
Governor, MGM Mirage meet over disputed payments
27 May 2010
CityCenter CEO Bobby Baldwin vowed to pay subcontractors who claim they are owed almost $400 million following a meeting between MGM Mirage executives and Gov. Jim Gibbons.
MGM Mirage invites subcontractors to meeting
26 May 2010
The casino company will invite CityCenter subcontractors to discuss what can be down to settle some $390 million in disputed claims.
CityCenter continues to close condo sales
25 May 2010
Condominium closings at the Las Vegas megaresort have totaled $118 million in sales at a pace not originally desired by MGM Mirage.
Governor meets with Perini officials over MGM Mirage dispute
24 May 2010
Gov. Jim Gibbons held a meeting with general contractor Perini Building over a payment dispute for the CityCenter project.
John Paulson now second-largest MGM Mirage shareholder
18 May 2010
The billionaire acquired 40 million shares of MGM Mirage, as well as 4 million shares of Boyd Gaming, during the first quarter of this year through his hedge fund.
MGM Mirage reports net loss of $96.7 million
7 May 2010
Wall Street was not surprised that the casino giant reported a loss of $96.7 million in the first quarter.
MGM Mirage hopes for quick resolution to CityCenter feud
7 May 2010
MGM Mirage CEO said he hopes the company's dispute with Perini Building Co. over payment of $500 million in CityCenter construction costs will be settled in quickly in Clark County District Court.
Fallen Oak earns major Golfweek honor
28 Apr 2010
The luxury course at Beau Rivage Resort & Casino in Biloxi earned the No. 10 ranking on Golfweek's "Best Tour Courses You Can Play" list.
MGM Mirage asks shareholders for name change
20 Apr 2010
MGM Mirage wants to change its name to MGM Resorts International, but The Mirage is not on the market.
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