Business
    Next Score View the next score

    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.

    Advertisement