By now you’ve probably read the rumors and analyst discussion about MGM Resorts selling The Mirage. Today MGM Resorts CEO Jim Murren said that The Mirage isn’t on the market. Well, if the rumors about The Mirage already being sold are true than he’s not lying. It’s not on the market.
My source that says the The Mirage has been sold also says that they will have a new hotel partner once they’re no longer be a part of M Life, MGM Resorts’ players club.
It’s rumored that Marriott will be the hotel partner for The Mirage once the sale goes through.
It’s difficult to be an independent hotel-casino operator on the Vegas Strip so Starwood Capital Group is taking steps to bring in a partner to help fill the hotel. Marriott was just voted the #1 national hotel chain rewards program by US News and World Report.
Starwood is also rumored to bringing in Paragon Gaming to operate the casino. Paragon currently operates the Westgate casino and used to operate the Riviera casino.
Marriott is currently the hotel partner for Cosmopolitan but it’s been rumor for while that the relationship will end soon since Blackstone, owners of Cosmo, also owns Hilton.
You can see the press release for MGM Resorts’ quarterly earnings here.
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