The "For Sale" sign is now up on the Mirage after last week's announcement by MGM Resorts International that the iconic, 31-year-old property is not a good fit for its plans in Las Vegas.
CEO Bill Hornbuckle said in a Nov. 3 earnings call that the Mirage operations were being sold as part of the company's effort to reduce its "exposure" in the city, adding that the resort was "far down in the spectrum" of priorities for investment. MGM already had an agreement to sell the underlying real estate to Vici Properties.
But while the Mirage may not make sense for MGM, analysts think there are plenty of potential buyers for whom it would make sense.
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