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How Will MGM Resorts (MGM) Stock React to Possible $10 Billion Bet on Japan Casino?

NEW YORK (TheStreet) -- MGM Resorts Int'l (MGM) may invest nearly $10 billion into a Japanese casino through a publicly traded real estate investment trust, Reuters reports.

The move comes as Tokyo is moving closer to legalizing the gambling industry.

Casinos are banned in the country, but the probability of their legalization has improved due to political shifts, Reuters noted.

MGM CEO James Murren said the Las Vegas-based casino resorts operator would spend between 500 billion yen and one trillion yen ($4.8 billion...


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