MGM Mirage (MGM)

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.

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.

May go bankrupt, get your puts in.

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!!!!!!!!!!!!!!

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.

Business is largely dependent on consumer spending, and willingness for consumers to augment expenditures.

This company has alot of debt. However, I also think the stock is undervalued despite the obvious risk associated with the purchase. I think it may be a good long-term play, but risky nonetheless.

This thing hasn't declared bankruptcy yet? As a previous poster put it: even if good times return, how will they overcome the debt load?

This company is doomed. Dooooomed!

Highly leveraged. High risk City Center project combined with too much near term enthusiasm.

Same as WYNN,its the economy stupid! Center City project could tank,like the Las Vegas Fontainbleau

Re-short. MGM = $3 stock.

so far two casinos filed for ch 11. This could possibly file. Its the lack of fcf and high interest expense that freaks me out, but who the hell knows I could completely be wrong. this stock is in the top short interest list, maybe that's why it exploded, could be short covering, don't really know just speculating, but if these guys do file for ch 11, I might buy it as long as they refinance their debt, cut costs and generate some cash for a change.

How does MGM overcome it's debt load even if good times return?

bankruptcy candidate

mgm auditors questioning if company can stay in business. Thats good enough for me to say OUTPERFORM

Sucker rally soon will be over.