Headlines

MGM Considers Casino Sales

Morgan Stanley hired to handle potential sales

Published

15 years ago

April 6, 2009

VMSD Staff

MGM Mirage is considering the sale of two of its casinos, MGM Grand Detroit and the Beau Rivage casino in Biloxi, Miss.

The Las Vegas-based company has hired Morgan Stanley to handle the possible transactions and is in discussions with buyers, according to The Wall Street Journal.
The company is under pressure to raise cash to meet looming obligations on its $13.5 billion in debt as well as to salvage the troubled City Center in Las Vegas, owned by MGM and Dubai World, which still needs funding.

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