Hedge fund makes major investment in Las Vegas

06/14/2010 | Las Vegas Sun

Paulson & Co., one of the world's largest hedge funds, is placing a big bet on Las Vegas with a $1 billion investment in three of the city's most prominent casino giants. The firm recently purchased 40 million shares in MGM Mirage and 4 million shares in Boyd Gaming, making it one of the largest shareholders in each company, and it will exchange previously acquired bonds in Harrah's Entertainment for a 9.9% equity stake in the company.

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