MGM Mirage slimming down, speeding up
Like an athlete that’s finally decided to return to the gym, debt-laden MGM Mirage is trimming the fat in an attempt to return to dominance and move away from potential bankruptcy.
Phil Ruffin has already closed the deal on Treasure Island, but the big news now circulating has MGM Mirage selling off MGM Grand Detroit and the Beau Rivage Casino in Biloxi, Miss.
With $13.5 billion in debt, it’s the smartest move available. It doesn’t solve its CityCenter problems, but it’s a sign the company is moving away from panic mode.