MGM Mirage (MGM) announced on Wednesday that the board has approved another stock repurchase for the casino resort giant, this time for up to 20 million shares. As of its 87.86 close on Wednesday, that would equal about $1.74 billion.
According to the Mirage, they have already repurchased 5.08 million shares in the current quarter. That leaves about 420,000 shares outstanding from their repurchase program which had been approved in the summer of 2004.
In other company news, their joint venture with a company based in China, is about to launch, as the MGM Grand Macau resort casino will open on December 18 in the hot gambling center of Macau.
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