Kirk Kerkorian, the renowned millionaire investor, said this week that he plans to acquire more shares of casino operator MGM Mirage Inc., through Tracinda Corp, a company that is solely owned by the mogul.

Tracinda announced that it would offer $825 million for up to 15 million shares in MGM Mirage, which would raise its stake to 61.7 percent. This represents a tender of $55 per share and a premium of more than 12 percent over the casino operator’s closing stock price this week.

“This tender offer demonstrates our confidence in MGM Mirage and its management and our commitment to the company's future,” a spokesperson for Tracinda said in a press release.

MGM Mirage Inc., owns and operates two casinos in Mississippi, the Beau Rivage in Biloxi and the Gold Strike in Tunica, and is the second-largest casino company after Harrah’s Entertainment Inc.