The Will of Kirk Kerkorian has ordered his estate to sell his 16% stake in in a casino company he founded called MGM Resorts International. The executor of Kerkorian’s Will is going to have to sell the shares of stock, valued at $1.75 billion, in an orderly way. Kerkorian, the son of Armenian immigrants, first started the company in 1973 when he built the MGM Grand Hotel in Las Vegas. “Today, MGM Resorts is the biggest operator of casinos on the Las Vegas Strip.” The Will has not stipulated any deadlines for when the shares need to be sold.
See Anthony Palazzo and Anousha Sakoui, Kerkorian’s Will Orders Sale of $1.75 Billion MGM Stake, Bloomberg Business, June 16, 2015.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
