MGM Resorts Announces Common Stock Offering

MGM Resorts Announces Common Stock Offering

MGM Resorts International announced that it is offering 40.9 million shares of its common stock and that its largest stockholder, Tracinda Corp., is offering 27,782,000 shares of its common stock pursuant to an effective registration statement. Barclays Capital Inc. is the sole underwriter.

MGM Resorts International and Tracinda Corp. will each grant the underwriter a 30-day option to purchase up to an additional 6,135,000 shares and 4,167,300 shares, respectively, to cover over-allotments, if any.

MGM Resorts International intends to use the net proceeds from the sale of the common stock for general corporate purposes, including the repayment of debt. MGM Resorts will not receive any proceeds from the sale of common stock by the selling stockholder.