Wednesday, October 20, 2010

Circus Circus Being Sold By MGM Resorts? Possibly...

It looks like MGM Resorts is setting up the Las Vegas and Reno Circus Circus properties for a buyer. Between major cost cutting and lean staffing, it's a signal that the Vegas giant is cutting it's least desired properties within it's change. Circus Circus also has been left out of all programs for the MGM player rewards program, another sign that Circus Circus is being shopped.

Whoever should buy the property will do a service to everyone. The property has been treated like the ugly red headed step child within the group. We saw a glorious chnage for the better when Treasure Island was sold and the same can happen for Circus Circus. The possible sale also will give MGM some more cash to help pay off the gigantic debt incurred due to City Center.