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MGM Resorts International (NYSE:MGM): Current price $12.7101
MGM Resorts International (NYSE:MGM) plans to invest over half $1 billion on revamping its Las Vegas and Detroit properties as it rides high after recording full occupancy during New Year’s Eve and through CES. The company is seeing strong bookings for the Chinese New Year beginning February 10, celebrating the Year of the Snake. MGM also got a boost by concluding a 25 year lease agreement on Macau’s famed Cotai Strip for a resort project having 1600 hotel rooms, 500 table games and 2500 slot machines to be built on 18 acres.
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