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MGM Resorts International Message Board

  • peoplernuts324 peoplernuts324 Feb 22, 2013 4:52 PM Flag

    #$%$..! Happend Today? Anyone Know? NV passed online gaming, this is great for MGM

    We basically went down on it.... BYD, CZR, everyone else was up nicely today.

    What's going on? We are trading like we are going out of business.

    Sentiment: Buy

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    • There are many reasons that this is a trading stock not an investment. You have except for the CEO the same team that almost led them into bankruptcy. Murren is proud of the City Center which is a disaster. Why would anyone want to put their faith in these clowns?

      Murren stated his goal is to pay down the debt when this company was near bankruptcy. The long term debt is at its highest level ever stated on December 31. The company pays over 1 billion in interest expense. The refinancing is supposed to reduce it by 200 million but it also increase the debt level.

      The future is to build more casinos and go deeper into debt. Look at 2015 and you will see that there are 2.3 billion dollars of bonds maturing. One is a 1.4 billion dollar convertible note due with the stock conversion at 18.58. If the stock is higher you will have a new shares issued. If the stock is below 19 a share they will have to refinance at a higher rate.

26.28+0.18(+0.69%)Oct 24 4:01 PMEDT