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May. 06, 2008
Copyright © Las Vegas Review-Journal

MGM Mirage shares rise

MGM Mirage shares rose today after Chief Executive Officer Terry Lanni said during a conference call that the Las Vegas-based casino company may be broken up to boost the value of its hotel-development and gambling units.

MGM Mirage shares rose $3.23, or 6.6 percent, to $51.85 at 4 p.m. in New York Stock Exchange composite trading, the biggest jump since August. The shares have declined 38 percent this year.

In response to a question posed by Deutsche Bank analyst Bill Lerner during a conference call with analysts and investors, Lanni said the company could separate into separate hotel and casino operations. He told Lerner that he has been frustrated by the favorable multiples pure hotel companies enjoy compared with gaming companies.


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    GOD wrote on May 06, 2008 06:14 PM: A typical PUMP AND DUMP scheme.


    Donald Trump wrote on May 06, 2008 04:38 PM: These guys are basically crooks. They are just trying to pad their own pocketbooks. I should know, for I have been taking money out of my casinos for years and years.

    At least I tell the truth about it. The customers AND the shareholders are the true suckers.

    Regards,

    Donald