[QUOTE=bkeiller;22058]Do you guys think this is already built in to the stock price?? And if not is it material??[/QUOTE]
Yes, it appears this is already in the stock price:
[URL="https://finance.yahoo.com/news/MGM-Mirage-shares-fall-after-apf-2045526049.html?x=0&.v=1"]MGM Mirage shares fall after lien claim[/URL]
On the first trading day after MGM released news of the lien, its stock lost $247 million in market cap on a day the overall market was essentially flat (actually the S&P 500 was up 0.04%). However, I don't think most of the hit that day can be attributed to the lien. Many casino stocks took a hit that day over unrelated Macao regulation concerns.
It seems MGM has a legitimate claim for the Harmon mess. I think the settlement of the two claims is likely to result in a net payment to Perini of something substantially less than the $492 million claimed. That said, the news does appear to be priced in and MGM would only be on the hook for half the cost of any settlement or judgement. Their joint partner in CityCenter, Dubai World, would pay the other half.
