Tuesday, January 20, 2009

MGM Selling Mirage to Penn National Redux

Debtwire's secret spies reiterate the rumor we initially picked up almost two weeks ago.

The deal makes sense from the point of view that without it, MGM is stuck with an unfinanceable mega project in the form of CityCenter which today probably lost its top potential customer.

- UPDATE: Situation is fluid... there may not have been a new announcement from debtwire... we still believe the nonagenerian should part ways with the casino Tom Jones calls home. Sphere: Related Content
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