Sometimes you have to grab the bull by the horns. MGM Resorts apparently sees a strong future for the company, as it has announced a plan to repurchase around $2 billion of its own stock. No timeline was given for the buy-back, but it comes on the heels of a $1-billion repurchase that was announced last September.

In announcing the repurchase, MGM Resorts CEO Jim Murren said, “The latest share repurchase authorization reflects the company’s financial strength and continued commitment to returning capital to our shareholders. We are pleased with the company’s strong balance sheet, which has allowed us to … to invest in our properties and explore prudent growth opportunities.”

The latest repurchase only represents around 10% of the company’s total market value. Repurchases such as these are usually conducted when company executives feel a stock price is undervalued, and anticipate strong growth in the future.

In light of the repurchase, the rumors of MGM courting a takeover of Wynn Resorts should drift off into nothingness. While the rumors had never been concerned, there was a lot of whispering of the potential deal. A New York Post report claimed Wynn CEO Matt Maddox would like to dissolve the company if the right offer presented itself. However, that offer probably won’t come from MGM.