The Michigan Gaming Control Board has released August revenue figures showing MGM Resorts International is once again the highest revenue earner in Detroit, however has fallen since July.
MGM Mirage (MGM) in the News
MGM Mirage was founded with the intention of developing, operating and owning casinos in the United States. The company is based out of Las Vegas, Nevada, but has expanded far beyond the strip. They own over fifteen casinos in the US, and are partners in several others. MGM was founded in 1986, and is formerly known as MGM Inc. They have an alliance with the Indian tribe that owns Foxwoods Casino Resort in Connecticut. In addition to the casino resorts, MGM also has an interest in retail shops, restaurants, and entertainment at their locations. Mr. James J. Murren is the Chairman of the company. Mr. Daniel J D'Arrigo is the Executive Vice President and CFO.
Latest MGM Mirage Company Stock News
MGM Resorts International released a statement on Wednesday defending the 13 year old tradition of displaying live lions at the MGM Grand after guest posted video footage of last week’s attack on YouTube.
Soleil Securities lifted its rating and price target on MGM Resorts International which sent shares of the global casino developer up during the afternoon hours yesterday.
MGM Resorts International is reviewing a situation that was reported on August 20 after Michal Jordan’s 19 year old son tweeted about his adventures in Las Vegas.
MGM Resorts International said that a valve malfunction was responsible for a chemical leak that sent 26 guest of the MGM Grand Las Vegas to the hospital on Friday.
After five years of overseeing operations at Detroit’s largest casino and the second highest revenue generator for MGM Resorts International, Lorenzo Creighton is moving on.
When Dubai World first announced that it was struggling with a massive debt load in November, MGM Resorts International assured investors that the co-owned Las Vegas City Center project would not be affected; now it’s 10 months later and the ownership of the entertainment complex may be on the line.
Subprime short seller John Paulson has increased his holdings in MGM Resorts International.
After two years of legal battles and false accusations, MGM Resorts International has won the right to evict nightclub owner Rumjungle from the Mandalay Bay Resort and Casino.
Casino operator MGM Resorts International has filed another trademark infringement lawsuit, this time against one of Italy’s largest mattress manufacturers.
MGM Resorts International has won its lawsuit against California resident, Ronnie Katzin for violation of copyright infringement laws and cybersquating.
With plans for an initial public offering of Macau assets on the Hong Kong Stock Exchange later this year and the desire to expand in the world’s fastest growing casino market, MGM Resorts International and partner Pansy Ho have secured debt refinancing for its Macau resort.
Even with debt refinancing and signs of stabilization in the Las Vegas market, MGM Resorts International was not able to narrow losses for the quarter.
Shares of MGM Resorts International were on the rise today up 3.78% while investors wait for the regional casino operator to report quarterly financials ahead of the bell on Tuesday August 3, 2010.
Although MGM Resorts International has not released its quarterly financials, Citi Bank has given the casino company a Sell rating.
In line with a settlement made with New Jersey regulators earlier this year, MGM Resorts International continues talks with potential buyers of its stake in the Borgata Resort and enters into an agreement to sell the land on which the Atlantic City gaming operation sits.
MGM Resort International plans to list its Macau assets on the Hong Kong Stock Exchange before the end of the year however is now one bank short.
Mega casino developer MGM Resorts International has promoted three key executives to oversee the company’s legal department as plans for expansion continue.
MGM Resorts International has received high key marks from the Green Key Eco-Rating Program, making it the first casino resort operator in Las Vegas to have its sustainability efforts recognized by the program.
The Harmon Tower at the center of the legal battle between MGM Resorts International and Perini Building Corp will be inspected this week as per Judge’s orders.