Billionaire John Paulson, through his new York-based hedge fund, has become the second-largest shareholder in MGM Mirage.
Bloomberg News reported Paulson & co. acquired 40 million shares of MGM Mirage, as well as 4 million shares of Boyd Gaming Corp., during the first quarter of this year.
The stake in MGM Mirage places Paulson behind only MGM Mirage founder Kirk Kerkorian, the 92-year-old Los Angeles-based billionaire, as the casino operator’s largest investor. Kerkorian, who serves on the company’s board of directors, controls 37 percent of MGM Mirage.
Dubai World, the investment arm of the Persian Gulf emirate, owns just below 10 percent of MGM Mirage’s common stock.
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