A well-known casino in Las Vegas is up for sale.
Las Vegas Strip is home to many casino resorts operated by MGM Resorts International. The Mirage, one of the esteemed properties, has belonged to MGM since 2000 and has been entertaining guests since 1989. However, MGM is now eyeing expansion elsewhere and needs funds. With its significant presence on the Strip, MGM sees an opportunity to part ways with one of its properties.
During a recent earnings call, MGM revealed its decision to sell the Mirage completely, although potential buyers or offers were not disclosed. MGM Resorts CEO Bill Hornbuckle shared that they are in the early stages of selling the casino’s operations. He stated, “This move will enable us to retain our Las Vegas properties while concentrating on enhancing the variety and diversity of our offerings in our hometown.”
Hornbuckle mentioned, “There’s 77 acres, a substantial portion of which remains undeveloped with great potential for future projects.” He added, “Considering capital distribution and diversification, we feel content with our Las Vegas portfolio.”
MGM Resorts is putting the Mirage casino in Las Vegas up for sale https://t.co/UwTkP5dfko
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MGM remains committed to Las Vegas with ownership of renowned casino resorts like Mandalay Bay and Bellagio. Additionally, they are set to acquire the Cosmopolitan for $1.6 billion. The proceeds from the Mirage sale will be channeled into a sports betting venture in the U.S. and a new casino resort in Osaka, Japan.
