Why MGM Resorts Jumped 5.2% Today

Shares of gambling giant MGM Resorts (NYSE: MGM) jumped as much as 5.2% in trading Thursday after a competitor reported solid earnings. At 2:30 p.m. EST, shares were still at their highs for the day.

Bellagio did announce a remodel of all of the guest rooms in its main tower, which will begin occupancy in April with all rooms completed this summer. As the Las Vegas Strip recovers, this could help drive higher room rates for the company's most profitable property.

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Source Fool.com