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MGM Resorts (MGM) Stock Closes Up, Analysts View Borgata Acquisition Postively

NEW YORK (TheStreet) -- MGM Resorts Int'l. (MGM) shares closed Thursday's trading session up 2.86% to $24.09 as analysts believe the casino operator could largely benefit from its recent agreement to buy Boyd Gaming's (BOYD) 50% stake in Borgata hotel and casino in Atlantic City, NJ for $900 million.

The company will also assume Boyd's $600 million in debt.

This comes as Atlantic City is grappling with struggling casinos. Last week, New Jersey Governor Chris Christie signed a financial stabilization plan design to avert a bankruptcy filing by the city.

But MGM is not giving up on Atlantic...


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