It may seem unimaginable but it is now being reported that Kirk Kerkorian’s Tracinda Corp. may sell its interest in MGM Resorts International (MGM).
In an announcement last week, Tracinda said it "occasionally receives inquiries regarding the shares" it owns in the largest employer in Nevada.
Kerkorian, 93, is the founder of the company and once held more than 50 percent of the outstanding stock. In fact, prior to the building of CityCenter, the Strip property that is 50 percent owned by MGM and a subsidiary of Dubai World, Kerkorian’s holdings were said to be valued at nearly $15 billion.
Since the country’s economic slump, Kerkorian’s MGM holdings have been valued at less than $2 billion.
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