Will MGM Resorts International’s Land Purchase Be Just What These Top Institutional Shareholders Are Looking For?

MGM Resorts International (NYSE:MGM) announced their acceptance of a land concession contract from the Macau government for a 17.7 acre parcel of land in the prime Cotai gambling district of Macau. MGM will pay $161.4 million, including $56.2 million upfront, and the balance in installments. According to a statement from the company, the casino resort  will include 1,600 rooms, 500 gambling tables and 2,500 slot machines.

Will MGM Resorts International’s shareholders increase their holdings? They reported owning a total of 105.532 million shares on 09/30/2012. The shares closed at $10.75 on 09/30/2012.

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Here are the ten largest positions in MGM Resorts International at the end of September 30th, 2012.

Advent Capital Management /DE/ held 94,454,000 shares on 09/30/2012 worth $98,645,000. This brought the portfolio total to 1.9%.

Marathon Asset Management LLP held 5,134,549 shares on 09/30/2012 worth $55,196,402. This brought the portfolio total to 0.88%.

Bank of New York Mellon Corp held 2,350,000 shares on 09/30/2012 worth $2,456,000. This brought the portfolio total to 0.0%.

Bank of New York Mellon Corp held 1,788,638 shares on 09/30/2012 worth $19,227,859. This brought the portfolio total to 0.01%.

Gateway Investment Advisers LLC held 452,711 shares on 09/30/2012 worth $4,866,643. This brought the portfolio total to 0.05%.

Schwab Charles Investment Management Inc held 374,758 shares on 09/30/2012 worth $4,028,649. This brought the portfolio total to 0.01%.

Oxford Asset Management held 227,839 shares on 09/30/2012 worth $2,449,269. This brought the portfolio total to 0.04%.

Marque Millennium Capital Management LCC held 192,900 shares on 09/30/2012 worth $2,073,675. This brought the portfolio total to 1.11%.

Shell Asset Management Co held 119,708 shares on 09/30/2012 worth $1,286,861. This brought the portfolio total to 0.03%.

Royal London Asset Management Ltd held 82,710 shares on 09/30/2012 worth $889,133. This brought the portfolio total to 0.03%.

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