In the required disclosures with the SEC, MGM said there was "no longer substantial doubt" that it will be going into bankruptcy. Shares go up. (Forbes)
*MGM was able to get an extra billion by diluting its shares. This money might be able to buy them some time but the long term outlook still remains bleak. Unless Vegas turns around, it will be forced to extending its bare hands out again. Instead of the previous 70/30 that they'll go bankrupt, maybe it's more like 40/60 within the next two years.
It's always wise to look at company's statements with a skeptical eye. Legal puffery is just another way of saying they're misleading statements.
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