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Mandalay Results, Detroit Rumors Push MGM Mirage Shares Up

CHICAGO, Illinois – CBS MarketWatch: "Blowout numbers from a merger partner and word of a possible sale of a Detroit casino pushed shares of MGM Mirage to a 52-week high early Friday.

"After the Thursday close, Mandalay Resort Group (MBG) -- which MGM Mirage (MGG) is acquiring -- reported a 65 percent jump in third-quarter profits on the back of rising revenue per available room in Las Vegas and brisk play on the gambling floor.

"Mandalay earned $67.1 million, or 99 cents per share, for the quarter that ended on Halloween, up from $40.6 million, or 63 cents a share, in the year-ago period.

"…Shares of Mandalay were up 37 cents at $70.06 while soon-to-be parent MGM Mirage added more than 2 percent to $62.02 after touching $64.81 out of the gate…"

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