Effective July 26, MGM Resorts International (MGM) will join the Standard & Poor’s 500 stock index to replace Reynolds American (RAI), which is being acquired by British American Tobacco. (That means that all funds that track the S&P 500 index will have to buy shares of MGM Resorts.) Shares of MGM Resorts closed higher by 2.87% on July 20. The stock has gained 170% since I added it to my Jubak Picks portfolio on May 4, 2012. I continue to hold the shares waiting for the company to open its newest casino in Macao sometime in early 2018 and on speculation that the company is a front runner in the competition for one of the first gaming licenses under the new gambling law passed by the Japanese legislature.
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