Starboard Builds $500M Position in MGM - NYP

Starboard Value has quietly taken a sizable postilion in MGM Resorts (NYSE: MGM) and is pushing for changes, according the the New York Post. Starboard Value has a $500 million stake in the company and joins other activists in MGM.

Activists have also taken stakes in Caesars Entertainment (NASDAQ: CZR).

The report mentioned the idea that MGM could be pressured to sell its Macau properties and merge MGM Growth Properties real estate investment arm with Caesars real estate investment trust. Positions by hedge funds are also seen as a bet on Vegas.

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