On Thursday, Shares of MGM Resorts International (NYSE:MGM), gained 0.89% to $22.72.
Gambling revenue in the Chinese territory of Macau fell for the second year in a row in 2015 as a prolonged anti-corruption campaign and slowing economic growth battered the world’s largest casino hub, according to Reuters.
Gambling revenue fell 34.3 percent to 230.84 billion patacas ($28.93 billion) last year, government data showed on Friday, compared with analysts’ estimate for a 35 percent decline.
December revenue dropped 21.2 percent from a year earlier to 18.3 billion patacas, the 19 straight month of decline.
The results will give impetus to Macau’s efforts to diversify away from casinos and become a more broad-based tourism hub as China’s anti-corruption drive cuts into income from VIP gamblers. Reuters Reports
MGM Resorts International, through its auxiliaries, owns and/or operates casino resorts. It operates through two segments, Wholly Owned Domestic Resorts and MGM China. The company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
Shares of SLM Corp (NASDAQ:SLM), remained flat at $6.52, during its last trading session.
Sallie Mae and College Select have declared that they have reached a three year agreement under which College Select will offer Sallie Mae’s “Smart Option Student Loan®” to students and families of College Select.
“The Sallie Mae Smart Option Loan provides flexibility and can be a responsible way to meet the cost of college.” said Dominick Ferraro, College Select’s CEO. “The features and benefits offered are an ideal solution for those expenses not covered under scholarships and grants.”
Sallie Mae offers highly competitive fixed and variable interest rates with no origination fees or prepayment penalties on its Smart Option Student Loans. Customers can reduce their interest rate by enrolling in the automatic debit option and receive free access to their FICO® Score on a quarterly basis. To encourage responsible borrowing, Sallie Mae requires its Smart Option Student Loans to be certified by the school’s financial aid office to assist ensure customers borrow no more than the cost of attendance less other financial aid received.
SLM Corporation, together with its auxiliaries, operates as a saving, planning, and paying for Education Company in the United States. The company offers private education loans to students and their families. It also provides banking products, such as high yield savings accounts, money market accounts, and certificates of deposits; and operates a consumer savings network that offers financial rewards on everyday purchases to assist families save for college. SLM Corporation was founded in 1972 and is headquartered in Newark, Delaware.
Finally, Rice Energy Inc (NYSE:RICE), ended its last trade with 6.87% gain, and closed at $10.89.
Rice Energy Inc., stated that on December 21, 2015, the Rice Energy Irrevocable Trust, a private Trust established for the benefit of members of the Rice family, executed a block sale of 5,000,000 shares of Rice common stock to pay down a line of credit extended to the Rice Trust by Morgan Stanley Private Bank, National Association.
Daniel J. Rice IV, Chief Executive Officer, said, “Before this transaction, the Rice family had not sold a single share of Rice Energy since the family formed the company in 2007. In order to pay taxes and expenses incurred as a result of the Rice Energy IPO in 2014, the Rice Trust obtained two loans, the terms of which the Trust has been in compliance with at all times. However, in light of current volatile financial market conditions, the Rice Trust determined that repaying the loans preemptively in an orderly and structured manner was the most prudent path towards preventing a potential margin call event in the future that could possibly detrimentally impact Rice Energy’s share price performance. As Rice Energy’s largest shareholder, in no way does this stock sale reflect the Rice family’s commitment to Rice Energy or its view of Rice Energy’s future performance potential.”
As revealed in a Plan 13D/A filed on December 21, 2015, on December 15, 2014, the Rice Trust reached a line of credit agreement (the “Line of Credit Agreement”) with Morgan Stanley for up to $33,000,000, and a Financial Assets Security Agreement (the “Security Agreement”), following which the Rice Trust pledged 6,750,000 shares of Rice common stock as security for its obligations to Morgan Stanley under the Line of Credit Agreement.
Rice Energy Inc., an independent natural gas and oil company, engages in the acquisition, exploration, and development of natural gas, oil, and natural gas liquid (NGL) properties in the Appalachian Basin. The company operates through two segments, Exploration and Production, and Midstream.
