Business

Market Movers

Investor Kerkorian may boost MGM stake

Patrons lined up at MGM’s resort in Macau. The stock closed at 13.16 Friday.

Vincent Yu/AP/File 2007

Patrons lined up at MGM’s resort in Macau. The stock closed at 13.16 Friday.

Las Vegas-based MGM Resorts International’s stock rose after Kirk Kerkorian’s Tracinda Corp. said it may boost its stake in the casino operator by more than one-third to as much as 25 percent. Tracinda, which owns 18.6 percent of MGM, made the disclosure with the Federal Trade Commission to comply with antitrust regulations, according to a securities filing last week. “No decision has been made as to the number of shares which may be acquired,” Tracinda said.

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