Casino Stock Winners and Losers: MGM Mirage

Updated from 1:10 p.m. EDT

Shares of casino companies mostly traded higher Thursday, with a couple of exceptions, most notably

MGM Mirage

(MGM) - Get Report

.

MGM Mirage, which announced Thursday that it had completed a dilutive $1 billion public stock offering priced at $7 a share, closed down 10.8% to $7.76. MGM originally said it would offer 81 million shares, but instead sold 143 million.

The Las Vegas-based company, majority owned by billionaire Kirk Kerkorian, is trying to pay down some of its $14 billion in debt and improve its balance sheet. Kerkorian's Tracinda Corp. holds about 54% of MGM Mirage's stock.

MGM plans to use part of the offering's proceeds, as well as funds from a notes offering, to repay at least $750 million under its senior credit facility and buy back some of its debt and that of Mandalay Resort Group.

The stock offering's underwriters will have a 30-day option to buy up to about 21.5 million additional shares to cover any overallotments. MGM also priced a private offering of $1.5 billion senior secured notes. That offering is set to close on Tuesday.

Elsewhere among casino companies,

Wynn Resorts

(WYNN) - Get Report

finished down 0.9% to $39.44.

Las Vegas Sands

(LVS) - Get Report

closed up 9% to $9.43.

Boyd Gaming

(BYD) - Get Report

closed up 0.3% to $9.63.

Penn National Gaming

(PENN) - Get Report

was up 0.4% to $30.66.

Ameristar Casinos

(ASCA)

was up 4.4% to $18.60.

Isle of Capri Casinos

(ISLE)

was up 0.2% to $11.64.

Melco Crown Entertainment

(MPEL)

was up 2.6% to $5.48.

Pinnacle Entertainment

(PNK) - Get Report

was up 1.5% to $11.19.

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