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Fact about venues.
Posted: 01 May 2010, 21:41
by whicker
MGM (as in MGM Vegas Grand etc) are in debt by 4.34 BILLION $. How does that happen, exactly?
Re: Fact about venues.
Posted: 02 May 2010, 08:34
by slapbangwhallop
whicker wrote:MGM (as in MGM Vegas Grand etc) are in debt by 4.34 BILLION $. How does that happen, exactly?
havent they just shelled out for a massive expantion of the hotel and built a few new towers? That could be the reason.
Re: Fact about venues.
Posted: 02 May 2010, 13:07
by Poncey
MGM film studios don't own the hotel/casino?
Re: Fact about venues.
Posted: 02 May 2010, 19:33
by RLewis
One of the reasons is the new City Center which nearly bankrupted them. Big investment just as the bottom fell out of Vegas property market. Then investors left them in droves, leaving their share price very weak.
http://en.wikipedia.org/wiki/CityCenter