Rumor: Mirage Las Vegas sold
Jul 27, 2015, 11:09 pm
#1
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Rumor: Mirage Las Vegas sold
Mirage Las Vegas has been sold to Starwood Capital Group. The formal announcement may not come for a couple weeks.
The Mirage casino will be separately operated by Paragon Gaming.
No idea if people with existing bookings using M LIFE points will have their reservations honored in the future.
The Mirage casino will be separately operated by Paragon Gaming.
No idea if people with existing bookings using M LIFE points will have their reservations honored in the future.
Last edited by Amicus; Aug 6, 2015 at 9:44 pm
Jul 29, 2015, 9:34 am
#5
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Found it but maybe not final.
By Howard Stutz
Las Vegas Review-Journal
Two Wall Street analysts said in research notes Wednesday that MGM Resorts International may be considering selling The Mirage to focus on other development aspects for the Strip casino giant.
The reports said MGM Resorts could sell the hotel-casino to Starwood Capital for between $1 billion and $1.5 billion.
Analysts said a sale of the property was possible because the company has focused most of its attention and development dollars on the Strip's southern end, where it is building the Park project between the New York-New York and Monte Carlo and a $350 million sports arena. MGM is also spending billions on building hotel-casinos in Maryland, Massachusetts and Macau.
Las Vegas Review-Journal
Two Wall Street analysts said in research notes Wednesday that MGM Resorts International may be considering selling The Mirage to focus on other development aspects for the Strip casino giant.
The reports said MGM Resorts could sell the hotel-casino to Starwood Capital for between $1 billion and $1.5 billion.
Analysts said a sale of the property was possible because the company has focused most of its attention and development dollars on the Strip's southern end, where it is building the Park project between the New York-New York and Monte Carlo and a $350 million sports arena. MGM is also spending billions on building hotel-casinos in Maryland, Massachusetts and Macau.
Jul 29, 2015, 10:54 pm
#6
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I am surprised Phil Ruffin did not put a bid on the Mirage. He is the owner of the TI and the two casinos are connected by a tram.
Both were built by Steve Wynn and than owned by MGM.
HERE IS AN OLD ARTICLE about Phil Ruffin: http://www.hotelresortinsider.com/ne...=1187&cat_id=9
$1B - $1.5B for the Mirage sounds like a bargain.
Both were built by Steve Wynn and than owned by MGM.
HERE IS AN OLD ARTICLE about Phil Ruffin: http://www.hotelresortinsider.com/ne...=1187&cat_id=9
$1B - $1.5B for the Mirage sounds like a bargain.
Jul 30, 2015, 4:31 pm
#7
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I am surprised Phil Ruffin did not put a bid on the Mirage. He is the owner of the TI and the two casinos are connected by a tram.
Both were built by Steve Wynn and than owned by MGM.
HERE IS AN OLD ARTICLE about Phil Ruffin: http://www.hotelresortinsider.com/ne...=1187&cat_id=9
$1B - $1.5B for the Mirage sounds like a bargain.
Both were built by Steve Wynn and than owned by MGM.
HERE IS AN OLD ARTICLE about Phil Ruffin: http://www.hotelresortinsider.com/ne...=1187&cat_id=9
$1B - $1.5B for the Mirage sounds like a bargain.
Aug 5, 2015, 3:45 pm
#9
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MGM CEO says The Mirage is "not on the market"
5 August 2015
MGM Resorts International did not announce a real estate investment trust structure for the company Tuesday and top executive Jim Murren shot down reports that The Mirage was about to be sold.
But a "seminal internal transformation" of the casino giant is underway that Murren said will increase annual cash flow by $300 million through various corporate initiatives.
5 August 2015
MGM Resorts International did not announce a real estate investment trust structure for the company Tuesday and top executive Jim Murren shot down reports that The Mirage was about to be sold.
But a "seminal internal transformation" of the casino giant is underway that Murren said will increase annual cash flow by $300 million through various corporate initiatives.
Aug 5, 2015, 4:44 pm
#10
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Can't wait to see how this story ends.
Aug 6, 2015, 9:48 pm
#11
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Here we go, a more recent article that may help:
http://www.edgevegas.com/rumor-the-m...tt-to-partner/
Tried editing link, but it keeps shortening the word marriott
http://www.edgevegas.com/rumor-the-m...tt-to-partner/
Tried editing link, but it keeps shortening the word marriott
Last edited by iluv2fly; Aug 7, 2015 at 6:49 am Reason: unnecessary