It is simple - MGM has more debt than the properties are now worth and now they don't have the cash flow to support that debt. As far as Riv you may be correct. I mentioned it a few years ago when it was at $2 and it went to something like $30. The problem now is the debt. There is $228M in debt supported by 12 M shares. That means we could buy the whole place for $15 Million. Not a bad deal. If it doesn't go under. And don't forget you also get the Blackhawk casino. Oh yeah - they also have $20 M in cash so we get it free with a 25% profit built in! Seriously I don't know if now is a good timne to buy the stock or not. Could be a great risk/reward play if you can afford to lose all of the money invested in the stock. My concern is that I just don't see LV business coming back any time soon.