MGM Resorts International, which operates about 40,000 hotel rooms at 13 resorts in Las Vegas, is planning to sell the Mirage operations.
MGM Resorts CEO and President Bill Hornbuckle made the announcement during the operator’s Q3 earnings call: “After careful consideration, we made the decision to sell the Mirage operations to another operator, a move we believe is the best for the long-term success of both the property and MGM Resorts.”
“We are committed to continuing to maintain and develop our existing portfolio in Las Vegas, with no plans for further changes to the Strip at this time.”
“I want to thank the valued members of our team at Mirage for making it such an amazing property and for being such excellent ambassadors for MGM Resorts.”
“Please know that we have not yet sold the property operations to another buyer, so for now and during an eventual transition, it is as if nothing has happened. The Mirage has served us well over the years, and I am sure it will continue to be a hit with a new operator in the future,” concludes Hornbuckle.
A shift in focus for the company
As the focus of MGM Resorts shifted more towards digital games, Mirage ended up falling off the operator’s list of financial priorities.
The sale announcement comes after the operator announced in September its plans to acquire Cosmopolitan’s Las Vegas operations.
MGM also won a bid to become a resort partner to bring a casino to Osaka, Japan.
Cosmopolitan’s deal was included in a $5.65 billion sale, which saw the game company retain management rights while the investment firm took ownership.
About MGM Resorts
MGM Mirage, officially known as MGM Resorts International, is a company from the city of Las Vegas, United States. The enterprise operates and controls a large part of North American hotels in other regions of the world.
The company officially began operations on May 31, 2000 after the merger of MGM Grand Inc. and Mirage Resorts, Inc. MGM Mirage is currently the second largest casino company on the planet.
