Kirk Kerkorian
Kirk Kerkorian
Las Vegas-based Tracinda Corporation was owned by Kirk Kerkorian, who was also instrumental in the establishment and success of MGM Resorts International, until the casino entrepreneur’s death at the age of 98 in June of 2015.
Named after Kerkorian’s daughters, Tracy and Linda, Tracinda Corporation explained that it intends to offload all of its stake in MGM Resorts International to UBS for an agreed "strike price” of US$ 23.94 per share before February 21 with the final compensation potentially set to include option payments.
Tracinda Corporation had held about 89.17 million MGM Resorts International common shares with investment analysts indicating that their price has recently been buoyed by improved trading conditions in Nevada and Macau, where the Las Vegas-based casino operator holds a majority stake in MGM China Holdings Limited, along with the possibility that the firm currently led by James Murren might win one of up to three inaugural casino licenses being proposed in Japan.
Source: GMB / World Casino Directory
