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MGM Mirage may be broken up

May 07, 2008|From Times Wire Services

MGM Mirage, the Las Vegas casino company majority-owned by billionaire Kirk Kerkorian, may be broken up to boost the value of its hotel-development and gambling units.

MGM Mirage's stock rose the most in more than eight months after Chief Executive Terry Lanni said in response to a question that the company might be split. Shares gained $3.23, or 6.6%, to $51.85.

The casino company is developing hotels for a fee in Beijing and Abu Dhabi, and has licensed its MGM Grand name to Connecticut's Foxwoods Resorts Casino.

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