Why MGM Resorts Is Falling Today
Shares of MGM Resorts (NYSE: MGM) were falling over 6% in afternoon trading Monday after Las Vegas casinos notified their staff that if they weren't recalled from furlough by August 31, they would subsequently be fired.
Major employers are required under the federal Worker Adjustment and Retraining Notification Act (WARN Act) to notify their workers when there are expected to be mass firings. MGM Resorts, Wynn Resorts, Tropicana, and other casino operators sent out such notifications.
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Source Fool.com