![]() ![]() ™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. MGM's stock jumped 4% in premarket trading following the news of the sale and posting a third-quarter profit. MGM Resorts International is the leader in entertainment & hospitality - a diverse collection of extraordinary people, distinctive brands and best in class. That transaction is expected to close next year. But it's not completely abandoning the Las Vegas Strip, announcing in September it was buying the Cosmopolitan for $1.6 billion. It's also expanding sports betting in the United States. MGM is using the money to invest billions of dollars in a new casino in Osaka, Japan. In 2019, MGM sold Circus Circus for $825 million and formed a joint venture with private equity firm Blackstone to acquire the Bellagio's real estate and lease it back to MGM Resorts in a $4.25 billion agreement. MGM Mirage Photos Current Fleet Historic Fleet 1 The average fleet age is based on our own calculations and may differ from other figures. Mirage is just one of the number of sales that have happened in Las Vegas in recent years. The Mirage opened in 1989 under previous owner Steve Wynn and was purchased in 2000 by MGM. MGM owns about a dozen properties in Las Vegas, including the Bellagio, MGM Grand and Mandalay Bay. "As we look at capital allocation and we look at the notion of diversification, we have enough of Las Vegas." Discover the psychedelic, captivating, immersive, and technological wonder that has excited. The three-time Grammy winning soundscape sets the backdrop for thrilling aerial acrobatics, daring trampoline & roller skate acts, and much more. "There's 77 acres, much of it's really undeveloped in the context of what could be there," Hornbuckle said of the Mirage's potential growth under a new owner. Set to an iconic soundtrack, The Beatles LOVE by Cirque du Soleil is a multi-sensory journey. "Doing so will allow us to maintain our existing Las Vegas exposure while focusing on the complementary and diverse nature of our offerings in our hometown," he said. ![]() MGM Resorts CEO Bill Hornbuckle said on the call they are in the "early stages of a process to sell the operations" of the Mirage. No buyers or price for the Mirage were revealed. The company made the announcement in its earnings call late Wednesday, explaining to analysts that it doesn't want to invest more money into the 32-year-old property best known for its exploding volcano. (CNN) - MGM Resorts is putting the Mirage resort and casino in Las Vegas up for sale, ending a 21-year ownership of one of the strip's most famous properties. ![]()
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