Thursday, July 30, 2009

They're trying to sell my poker room

I saw this headline in a Memphis alternative newspaper:

MGM Mirage Mulls Sale of Gold Strike

They can't do that -- the Gold Strike is where I play poker. Maybe they didn't get the memo.

Apparently the parent company is $13 billion in debt. Debt is common in the casino industry, but with the economic downturn, they are trying to reduce it. Also for sale: The Beau Rivage in Biloxi, MS; the MGM Grand Detroit; and two properties in Laughlin, NV -- the Colorado Belle and Edgewater Casinos.

The potential Mississippi casinos sale is discussed here.

Here's a Motley-Fool article titled "Can Anything Save MGM Mirage?" (The short answer is "no.")

The possible sale of the Laughlin casinos is linked to here.

MGM Mirage owns: The Bellagio, the Mirage, the Luxor, MGM Grand, Mandalay Bay, New York New - York and many others.


  1. When the casinos are doing badly, you know that something is wrong because all I know about casinos is that "the house never loses" and if it begins to look like it will then there is gonna be trouble!

  2. With the massive debt MGM has aquired building the huge City Center complex in Vegas its no wonder they are trying to off load some of their holdings.

  3. And I was just starting to like the place. Let's protest, Mojo! I can't believe the Beau is up for sale also.

  4. Next thing you know organized crime will be filing for unemployment.

  5. $13 much rake can that be?

  6. The MGM Grand is not going anywhere. They are going to be heavily involved in online gaming soon and $13B is one years worth of profit. These operators are not billionaires for no reason

  7. I think should. People will do what they want to, nobody will be afraid of legal issues. And now online gambling is getting popular, I love to play here pala casino lobby