MGM Mirage (MGM)

City center is around the corner

MGM owns 10 Las Vegas casinos and was added to the “Bottom Rung” this quarter, has $8.1 billion of bonds outstanding, with $1.28 billion coming due this year, according to data compiled by Bloomberg. Gambling revenue in Las Vegas, the biggest betting center in the U.S., fell the most on record last year, causing declining sales at MGM Mirage.

Navada real estate is toast, and Las Vegas real estate market is burnt toast. So December 2009 would have to be the worst time to launch that new $12 Billion dollar condo project, right? They already took a 30% hit on those condo prices, and we haven't yet gotten to the launch.

MGM built the Titanic in Vegas but she hasn't taken her maiden voyage just yet.

Down, 2010 does not look like a good time to gamble with this stock.

I think the Las Vegas/Casino based stocks are some of the best bets. Wynn, MGM, and LVS aren't going anywhere. Considering the DOW is back near 10,000, halfway back to its high, I can only imagine that as the rest of the country slowly recovers, you will see stocks like LVS which was once selling down near $2 a share back to $100+. The desire, want, need to gamble will not go away. The minute spare funds are available, casinos will be back to their prime. Companies like WYNN, MGM, and LVS are highly leveraged in their desire to expand, but will ultimately survive and be stronger for it. The timing of the downturn was bad, but even local to me (Western New York) the casinos here are upset that instead of making $120 million, they only make $102 million. Believe me, they aren't losing money and the only thing that has these larger traded companies in a bind is the poor timing to be highly leveraged. I don't think they are losing any money, they have just lost all ability to find financial flexibility, further leverage themselves, or possibly to maintain any loan covenants that would otherwise be a non-issue. As the economy recovers, their significant investments will pay off, their leverage will increase, they will be back to having financial flexibility, and they will again thrive.

mgm

Terrible Fundamentals which will eventually catch up with this stock...
2008 EPS: .92 p/e 10
2009 eps: -.31 p/e 0
2010 eps: -.53 p/e 0
The forcast for next year is showing that MGM is going to lose more money than this year.. This stock may go up in the short term (which I don't think it will) but long term, the fundamentals of this stock have to catch up to it's stock price.

MGM is going back up. It has reached a basement of about $9. Look for it to continue it's upward trend and reach $12 in a week or so. Then it will continue its roller coaster ride back up to the $15 level soon. This is a good day trade stock or long buy

Once the citicenter opens and starts getting a flow of customers in, this destination will prove to be one of the world's hippest, and coolest places to be, and it will turn to big profits.

May go bankrupt, get your puts in.

opening of city center in december..12 billion dollar project completed high tech will draw foreign travelers and buyers...

People will return to Vegas when the economy picks up. Now is the time to pick up this stock for cheap

NO WAY THE AVG. JOE IS FINANCIALLY READY FOR VEGAS STYLE ENTERTAINMENT SPENDING...UNEMPLOYMENT AND PERSONAL DEDT LOAD GOING TO BE HIGH FOR THE NEXT SEVERAL QUARTERS...NO,NO AND NO!!!!!!!!!!!!!!

People gamble, we know that. People will always gamble, we know that. Where do people go to gamble? MGM Mirage is certainly a huge player. This company has gotten there act together and i think they have learned how to play the market and attract people in. I am curious to know what percent of their money is made on return visitors. anyone that can keep customers coming back, especially in these uncertain times, is a winner in my book.

Stock has moved up In anticipation of CITY CENTER In Las Vegas grand opening. MGM Is still tring to raise cash which In my opinion Is not a good sign. Fully 2/3 of the unemployed In Nevada are In Las Vegas,and It Is getting worse. My fair value on this stock Is $5.00,and I really cannot see the justification for Its current lofty valuation... TS

Never easy to be negative in a bull market, but casino's have gone way too far too fast. Consumer spending will hurt these companies more than the current bull run can do them good. Plus, they miss out on the Macau vibe.

Has a large number of Casino's on the Las Vegas strip and as economy rebounds price should break wide open.

insane price growth, if you are an average investor i'd avoid this stock as it's like playing with fire at these levels. I see more up side but you can easily get burnt with this is you don't know what your doing.

MGM has high potential if the economy gets better. As we've seen in the last few days.

they just follow LVS