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Slumping MGM Mirage Could Get a Boost from Major Stakeholders
By Jennifer Yousfi Managing Editor A slowing U.S. economy has taken its toll on MGM Mirage (MGM), but analysts are convinced that majority shareholder Kirk Kerkorian will take action before allowing shares to get too low. Kerkorian, a 90-year-old billionaire investor, owns 52% of MGM and in the past, has stepped in with a share […]
MGM Mirage Steps Into the Fray Again, Partners With Abu Dhabi To Develop $3 Billion Resort
From Staff Reports MGM Mirage (MGM) will partner with the Mubadala Development Co. to develop the MGM Grand Abu Dhabi resort. This latest MGM-headed project is projected to cost $3 billion and will be owned by Mubadala, which is wholly owned by the government of Abu Dhabi. MGM Mirage will develop and manage the project […]
Dubai World Halts Investments in MGM Shares – For Now – But Las Vegas Firm Still Offers Great Promise From China
From Staff Reports Dubai World has temporarily halted its investments in MGM Mirage Inc. (MGM), after shares of the Las Vegas hotel-and-gaming firm soared well above the suitor's target price. A government-run venture investor, Dubai World used its Infinity World Investments unit to purchase 14.2 million common shares of MGM stock at about $84 a […]
Solid Regional Growth Helps Emirates Telecommunications Report Profits of $1.5 Billion Through Year's First Nine Months
By Mike Caggeso Staff Writer Dubai-based Emirates Telecommunications Corp. (generally referred to as Etisalat), the third-largest Arab telecommunications company, reported that profits for the first nine months of this year jumped 14% (or $490.2 million) to $1.5 billion, as the company added more customers in the rapidly growing area, Reuters reported. Though Etisalat's coverage area […]
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