The company made the announcement in its earnings call late Wednesday, explaining to analysts that it doesn't want to invest more money into the 32-year-old property best known for its exploding volcano. No buyers or price for the Mirage were revealed. MGM Resorts CEO Bill Hornbuckle said on the call they are in the"early stages of a process to sell the operations" of the Mirage.
"MGM owns about a dozen properties in Las Vegas, including the Bellagio, MGM Grand and Mandalay Bay. The Mirage opened in 1989 under previous owner Steve Wynn and was purchased in 2000 by MGM.Read MoreMirage is just one of the number of sales that have happened in Las Vegas in recent years. In 2019, MGM sold Circus Circus for $825 million and formed a joint venture with private equity firm Blackstone to acquire the Bellagio's real estate and lease it back to MGM Resorts in a $4.
Dang....COVID getting everybody
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I feel like every time MGM Resorts puts one of their properties up for sale, the assholes that buy them assume they can tell MGM Studios what to do. 😑 MGM Resorts & MGM Studios are seperate.
Why now when the leisure travel is reviving?
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I heard TFG is looking for a new career. This is in his wheelhouse bahaha
Those are Terry Benedict's casinos
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MGM Plans to Sell Mirage Operations in Las VegasMGM Resorts said it will sell its operations of The Mirage to another operator, part of a rash of deals that are changing ownership on the Las Vegas Strip good luck Hopefully they get paid in $Kishu that would be a big winner for them 💎💎💎 I really love the -easy art degree- garden tools that work at your company. That's why they aren't paid much, right? Because their degree is dime a dozen?
Source: WSJ - 🏆 98. / 63 Read more »
MGM Plans to Sell Mirage Operations in Las VegasMGM Resorts said it will sell its operations of The Mirage to another operator, part of a rash of deals that are changing ownership on the Las Vegas Strip good luck Hopefully they get paid in $Kishu that would be a big winner for them 💎💎💎 I really love the -easy art degree- garden tools that work at your company. That's why they aren't paid much, right? Because their degree is dime a dozen?
Source: WSJ - 🏆 98. / 63 Read more »
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