MGM Resorts International to Sell The Mirage in Las Vegas
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MGM Resorts International is looking to sell The Mirage in Las Vegas. The company is trying to diversify its Las Las Vegas portfolio. It already owns MGM Grand, Bellagio, Aria, Vdara, Excalibur, Luxor, Mandalay Bay, The Mirages, New York-New York and Park MGM. In September, it bought The Cosmopolitan for $1.625 billion.
MGM Resorts International is selling The Mirage. The hotel was built in 1989 for $630 million. It was funded partially with Wall Street junk bonds. MGM acquired Mirage Resort from Steve Wynn for 4.4 billion. Mirage has been home to famous entertainment acts Siegfried & Roy and Cirque du Soleil's Love. Poker rooms at Excalibur and Mandalay Bay will be closed permanently. VICI Properties bought MGM Growth Properties for $17.2 billion and will own the real estate.
