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MGM Resorts International(NYSE:MGM) finishes 2012 in high notes and start 2013 in high note with all its hotel rooms for the International Consumer Electronics Show the city’s largest convention of the year, which runs through Friday.
There was strong bookings for Chinese New Year, which this year begins February 10, one week after the Super Bowl and celebrates the Year of the Snake.
MGM Resorts CEO Jim Murren addressing the state Gaming Control Board on Wednesday told regulators that improvements to Las Vegas properties are high on the company’s to-do list this year. Murren said the company’s actions last year to refinance debt saved $237 million and the company is opting to reinvest that and more than $250 million more into Las Vegas.
In china, the news for MGM was good with completion of a 25 year lease agreement on 18 acres on Macau’s Cotai Strip for a $2.5 billion resort that would have 1,600 hotel rooms, 500 table games and 2,500 slot machines. MGM is a 51 percent owner of MGM China, which is developing the resort with Chinese partner Pansy Ho. MGM already, operates a 35-story, 600-room property on Macau’s mainland peninsula near the Wynn Macau and Encore at Wynn Macau.
MGM just opened a Cirque du Soleil show “Zarkana” at the Aria and is working on a Michael Jackson-themed Cirque show at Mandalay Bay.
Shares of MGM Resorts International rose by 6 cents or 0.475 to $12.73 in the morning session.
How Should Investors Trade MGM After The Recent Volatile Moves? Find Out Here
NuVasive, Inc.(NASDAQ:NUVA) coverage was initiated by Janney Montgomery Scott with a Buy rating and price target of $22.
Shares of NuVasive Inc rose by 35 cents or 2.02% to $17.66 in the morning session.
NuVasive, Inc, a medical device company, engages in the design, development, and marketing of minimally disruptive surgical products and procedures for the spine.
Is NUVAShowing Any Sign of Buy At The Current Market Price? Get Our Free Trend Analysis Here
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