George Soros Bet Millions Against Mandalay Bay/MGM Last Quarter
Baxter Dmitry
YourNewsWire.com
October 9, 2017
Globalist billionaire George Soros bet millions last quarter against MGM, the company that owns Mandalay Bay Hotel, and is now set to profit to the tune of hundreds of millions of dollars, according to data released by the U.S. Securities and Exchange Commission (SEC).
George Soros manages an investment fund, Soros Fund Management, that is required by law to file quarterly statements with the SEC to disclose its positions.
On 14 August this year, Soros Fund Management filed a 13f. The statement previous to that was filed on 15 May. By analyzing these two forms, we can see the changes George Soros made to the portfolio in that time.
When it comes to gambling stocks, Soros does not seem too interested, with the exception of MGM, the company that owns Mandalay Bay and the other Las Vegas casinos that were on lockdown during the 1 October attack, with reports of active shooters on the premises.
All of these hotel-casinos are facing an avalanche of lawsuits and share prices, in particular at Mandalay Bay, are expected to plummet.
15 May 2017
LVS (Las Vegas Sands, Sheldon Adelson’s casinos) – Soros owned 5,000 shares.
WYNN (Wynn Resorts, Steve Wynn’s casinos) – Soros owned 3,500 shares.
MGM – Soros held no position.
Soros’ 15 May statement viewable at the SEC website here.
14 August 2017
LVS – Soros sold 1,400 shares, leaving him with 3,600.
WYNN – Soros sold all 3,500 shares, leaving him with no position.
MGM – Soros bought put options, which means he was short the shares, to the tune of 1,350,000 shares.
Soros’ 14 August statement viewable at the SEC website here.
What does shorting a stock mean?
When watching a sports game, would you bet on who’s going to lose?
That’s essentially what “short-sellers” are doing – they are betting that a stock will fall in price. (“Long investors” bet that prices will rise.)
Rather than trying to pick a winner, short-sellers, like Soros’ gamble on MGM/Mandalay Bay, are trying to pick a loser.
Daily Worth provide a simplified example of how shorting a stock works:
The Rest…HERE
