MGM Int'l (MGM) Hopes Zynga-Like Game Draws Crowds
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Price: $46.88 +0.95%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.3%
EPS Growth %: -30.4%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.3%
EPS Growth %: -30.4%
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MGM International (NYSE: MGM) is looking to get more social.
According to reports, MGM is expecting to release a new social game along the lines of Farmville from Zynga. Except, instead of being an awesome farmer, your aim is to become a casino mogul.
Speaking at the Global Gaming Expo during a keynote yesterday, MGM CEO Jim Murren said gaming and online gambling are "on a collision course."
MGM hopes the game will attract more customers to its casinos.
With MGM shares trading at about half recent highs of $16 in mid-July on economic concerns, Murren believes that Wall Street is still valuing the company at levels three-years ago, in the throes of the recession. Despite this, he is remaining upbeat on his company and the ability of U.S. casinos to move into the virtual world with online gaming. The recent labeling of Full Tilt poker as a Ponzi scheme isn't helping out the cause however.
No word on what Murren's screen name for the new social game will be.
MGM shares are 2.4 percent higher Thursday.
According to reports, MGM is expecting to release a new social game along the lines of Farmville from Zynga. Except, instead of being an awesome farmer, your aim is to become a casino mogul.
Speaking at the Global Gaming Expo during a keynote yesterday, MGM CEO Jim Murren said gaming and online gambling are "on a collision course."
MGM hopes the game will attract more customers to its casinos.
With MGM shares trading at about half recent highs of $16 in mid-July on economic concerns, Murren believes that Wall Street is still valuing the company at levels three-years ago, in the throes of the recession. Despite this, he is remaining upbeat on his company and the ability of U.S. casinos to move into the virtual world with online gaming. The recent labeling of Full Tilt poker as a Ponzi scheme isn't helping out the cause however.
No word on what Murren's screen name for the new social game will be.
MGM shares are 2.4 percent higher Thursday.
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