Robin Leach has been on fire with somewhat interesting rumors this past week. One of his quick hits this week is that Mandalay Bay and Las Vegas Hilton may have new owners soon.
I’m hearing that a group of well-heeled moneymen has decided that it’s time to start buying again in Las Vegas, and they have started discussions to bid on Mandalay Bay or the Las Vegas Hilton
There seems to be a few investors looking to get into Las Vegas casinos with properties being available at bottom dollar. Investor John Paulson has been the most recent money man getting in on the action, purchasing almost 10% of Harrah’s.
This is only rumor and it’s from Robin Leach, so I’m not going spend much thought on what the future may hold for the properties. I wonder who else is sniffing around.
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I think Robin Leach just reports every single rumor he hears, without a thought to the validity or sense.
I can’t see MGM Resorts dumping Mandalay. The convention center business is big there. I think the Mirage would be the next property they sell, or else MGM Detroit or one of the Mississippi properties. Don’t really see them breaking up the MB/Luxor/Excal triad.
Eric, I agree about RL. Mandalay has been rumored to be on the market for a few years, but I agree re: Mirage.