MGM Resorts Tanks

MGM MIRAGE (MGM): Down 29% Since John Paulson Bought In the Quarter Ended on 2010-06-30

John Paulson added to his holdings in Gambling company MGM MIRAGE by 9.5% during the quarter ended 06/30/2010. He owned 43,800,000 shares of as of 06/30/2010. MGM Resorts International, formerly known as MGM MIRAGE, is a global hospitality company, operating a portfolio of destination resort brands, including Bellagio, MGM Grand, Mandalay Bay and The Mirage. Mgm Mirage has a market cap of $4.15 billion; its shares were traded at around $9.4 with and P/S ratio of 0.6.

MGM recently reported its second quarter 2010 results. Operating loss for the second quarter of 2010 was $1.0 billion compared to operating income of $131 million in the second quarter of 2009.