Big changes are happening in Vegas! This week #MGM Resorts announced they are beginning the initial stages of listing their iconic Mirage resort in Las Vegas for sale. We go over the details plus discuss who might purchase it and how the land/operations setup could be a problem for some.
Additionally #Caesars Entertainment announced this week that they plan to sell a single Las Vegas Strip property in early 2022 as well. While they didn’t announce which property they are going to sell in #Vegas, we’ll go over the likely candidates and who might be in the market for their properties.
0:00 Welcome to MtM Vegas
0:17 MGM Resorts has announced Mirage is for sale
2:50 Who is going to buy The Mirage?
4:22 Why reuniting Treasure Island and Mirage makes sense
5:18 How is Mirage – What are the rooms & property like?
7:35 Caesars Entertainment is selling one of their Vegas Strip properties in 2022
8:45 Why it has to be Bally’s or Planet Hollywood
10:33 Caesars needs money – Why they are selling a property & what their CEO said
12:30 What will Hard Rock buy in the Vegas market. Virgin Hotels takeover?
Produced & Edited by: Shawn Coomer
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Host – Shawn Coomer – @MtM_Vegas
Host – Mark Ostermann – @DetroitMark
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25 comments
I could see Caesars selling Planet Hollywood to Hard Rock. With Hard Rock easily converting it to their theming. I think MGM selling Mirage is a big mistake. I think Mirage gets revenue for MGM because it is surrounded by competitors. Besides Mirage having a very loyal following, Mirage has the best location on the Strip. MGM should sell either Excalibur or Luxor, having 2 low end resorts is redundant. I don't care for either resort. I could see why MGM would want to keep one of these resorts for its proximity to the stadium, but both nah.
Very nice video. I can go to Mexico for a couple weeks for what it costs me to stay in Vegas at our beloved Mirage. Airfare and what not. I haven't had the desire to return to Vegas in 4 years. It just isn't the same. Everything has changed so much in last couple years. My family will always have the memories!
Hopefully more companies and more competition on the Stip!
Mirage is a Vegas Icon. Hope it remains as is & where it is.
this is a long shot … but i bid nine dollars
As long as they don’t knock it down , I don’t really care who owns it!! Looks such a lovely hotel/casino and can’t wait to visit the Mirage next year.🇬🇧
Myself and two friends were due to stay there on the first day of lockdown here in the UK. I had a really good deal with my slot host; room comped for all 8 nights, plus $300 room credit and limo to and from the hotel. I am assuming new ownership will mean this comp will have gone down the toilet, am I right?
you guys are kind and do a great job and thank you,i hope to get there some day!
I'm thinking caesars will sell the Rio.
Wonder if Steve Wynn would buy it back??
I’m done with the big Strip hotels. Overpriced and lack of service. Also the quality of visitors has declined, what fun is that?
the rumer i have heard as to why ballys is getting rid of the restaurants and such is because they are planning on renovating and tying it in to the Paris more. but that is all just rumors. My bet is on Caesars selling the planet Hollywood.
Circus Circus has gone downhill for years!
Phil Ruffin is a “buy low, hold onto a while while making minimal investments, then sell high” kind of guy, I don’t see him buying the Mirage. If they have the money, I could see Boyd Gaming as a potential buyer, especially since it’s just the operations and not the physical property. Boyd’s travel agency, Vacations Hawaii, used to offer packages with the Stardust along with all the Boyd downtown hotels. I could see them getting premium pricing on tour packages for the Mirage.
Planet Hollywood would be sold by Caesars, is my guess. The only way I could see Harrah’s being sold is if the name was kept by Caesars and they totally transformed Ballys into a new, improved Harrah’s. They could take the Bazaar shops area and turn it into a bigger, better Carnival Court.
Would really love to see the Wynn Corporation take over operations or one of the downtown operators
2 inch's of rain a year is all Vegas gets,I know you claim 4 inch's,either way ,doesn't really matter if it's 2 or 4 neither is enough to keep up with overpopulation of the city,I just heard lake mead has fallen even more this last month ,I have a feeling these old timers see the writing on the wall and bailing out,before lake mead is dry,my friend who lives there say's fall/winter is dry as a bone,even more so this year then last,yet keep building/promoting population growth.bizarre .
I visited Mirage just last week. Its dark casino was always appealing to me, and I was surprised at how smokey it was, despite being rather empty.
Mr. Ruffin is so down-market! That would be very sad!
The REASON these Hotels are selling……is because the OWNERS HAVE WAY TOO MUCH DEBT
(Kinda like Evergrande) . Whomever buys these hotels WILL HAVE TO ASSUME THIS DEBT.
GOOD LUCK ALL YOU POTENTIAL BUYERS….!!
Maybe people are getting tired of being ripped off on the strip. Las Vegas has lost its luster.
As much as I enjoyed staying at Bally's for a week (several years ago) it is old, and the architecture is dated. The towers haven't changed since the MGM Grand days. It's a great location too, but the place is just weird and leaves a lot to be desired. I found myself going to other hotels/casinos rather than spending a lot of time in Bally's. I would hope that it is Bally's that gets sold, and that the new buyer, as least, gives the tower exteriors a much-needed makeover. When I see them, I have flashbacks to the disastrous fire which killed 85 people. I was surprised that nothing has been done in the 41 years since. They should also kick out the bizarre bazaar shops in front, and turn that into a day club/night club, and build a parking garage somewhere to the east (if there is property available) or make a deal with Paris for use of their garage. Anyone got a few spare billions of dollars? 😆
Jeez, I hope they don’t implode it. It’s such a nice place to shoot from.
Another thing that wasn’t mentioned. Lake Mead is about to dry up. There is no solution as of yet. As to what LV is going to do about water. I’d consider that, the big players know. No water, no fun man. No water, no bong hits! No water…….no nothing. It’s real, and it’s true.
What does all this men for my rewards card/membership?
I was a regular at the Hard Rock and they told me the last time I was there that Hard Rock signed a non-compete clause in LV so they will not be taking over the Mirage for sure, even though I would love for it to return!