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SPRINGFIELD, Mass.— The price tag for MGM's planned resort casino in the city continues to climb. Now MGM Resorts International President Bill Hornbuckle says the projected cost of the development has ballooned to more than $950 million despite the company's efforts to propose cost-saving design changes. "The reality is that this project will exceed $950...
*MGM to maintain control of new REIT. MGM said it would transfer seven Las Vegas resorts- The Mirage, Mandalay Bay, Monte Carlo, New York-New York, Luxor, Excalibur and The Park- to the REIT, a structure that helps a company save taxes. MGM shareholder Land and Buildings has been putting pressure on the company throughout this year to convert its real estate assets into a...
The properties would include six Las Vegas resorts and entertainment assets besides The Mirage: Mandalay Bay, Monte Carlo, New York-New York, Luxor, Excalibur, and The Park. MGM said it will continue to manage and operate the properties and will retain full ownership of the Bellagio and MGM Grand Las Vegas. MGM join a list of companies looking to spin off their real...
CHICAGO, Oct 26- When a bankrupt operating unit of Caesars Entertainment went on the market earlier this month, the package consisted of 38 casinos, including the iconic Caesars Palace Las Vegas. Potential bidders for CEOC, a casino-operating unit of Caesars Entertainment would be wading into the middle of a costly and complicated bankruptcy, and they note that...
The market for distressed properties has spread from the housing market to the very heart of Sin City.
Take a look at some of Tuesday's early movers: YUM, AET, STZ, DIS, PG, MSFT & more
Some traders are placing bets that Caesars Entertainment will go even higher.
Nguyen Van Tuon seems unconcerned that his business driving Vietnamese gamblers across the border to Cambodian casinos is under threat.
The "Fast Money" traders share their final trades of the day.
The Foreign Corrupt Practices Act is hampering U.S. business expansion abroad, especially in the gambling industry. Now bets are moving to Asia.
It's time for the Lightning Round. Cramer makes the call on viewer favorites.
It’s time for the Lightning Round. Cramer makes the call on viewer favorites.
Penn National Gaming has been trending lower, and now the bears are looking for another push to the downside.
SPRINGFIELD, Mass.-- Springfield, Mass. is moving on to the second phase of its casino selection process. They are MGM Resorts International, Penn National Gaming Inc., and Ameristar Casinos Inc.. Springfield Mayor Domenic Sarno appointed a seven-member advisory committee Thursday to help review applications.
SPRINGFIELD, Mass.-- Ameristar Casinos Inc. has unveiled plans for a $900 million- plus casino at a former industrial site in Springfield, Mass.. The Ameristar plan announced Tuesday includes 150,000 square feet of gambling space, a 500- room hotel, multiple restaurants and a spa on a former Westinghouse Electric site it owns near Interstate 291.
NEW YORK-- Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:. Nokia Corp., down 14 cents at $2.80. Supervalu Inc., up 10 cents at $2.14.
BOSTON-- Three companies seeking to develop a resort casino in Springfield submitted applications Thursday to the western Massachusetts city, and a fourth that had previously expressed interest declined to enter the competition.
Penn National Gaming Inc. said on Thursday it was seeking to build an $807 million resort casino and hotel on a parcel that is now home to a newspaper and a bus terminal.
Oct 11- Fitch Ratings has affirmed MGM Resorts International's. Fitch also affirms all of MGM's and MGM Grand Paradise's transaction ratings, which are listed at the end of the release. The above considerations should improve MGM's credit profile in terms of liquidity, FCF and leverage to be more consistent with a' B' IDR over the next several quarters.