MGM Sale Bellagio Circus Circus
As you know there have been news of MGM Entertainment wanting to sell properties on the Strip and focus on entertainment (I’d call it low-quality, easy entertainment), in a move to chase long-time Vegas gamblers/visitors even further away and the heavy-gambling seniors furthest. This property sale will affect everybody in several ways. Changes may be for the better, who knows, but it may affect myVegas too. I talk about this further down.
Most senior gamblers are now playing in more “generous”, local casinos (such as at Niagara Falls if you are in Ontario or at the 2 great casinos in Vancouver BC) and avoid the Strip altogether (understandably) and others play online. Some will still go to off-Strip casinos (such as the magnificent M Resort or even Red Rock) as those into the traditional Vegas thrill will still be very welcome off the Strip. Even the very best, most modern, high-tech cinemas are OFF the Strip (such as at Palms at the Red Rock Casino).
What will happen to MGM Grand, Bellagio and Circus Circus and how it will affect visitors and even myVegas?
MGM Resorts International is working toward a deal to sell another Las Vegas Strip casino, the MGM Grand, before the end of the year, part of a continuing strategy to pull cash out of its real estate, company officials said Wednesday.
Earlier this month, the company agreed to a sale-leaseback of the Bellagio and an outright sale of Circus Circus on the Strip, separate deals the company expects to generate a combined $4.3 billion in net cash.
from Marketwatch.com, full article on https://www.marketwatch.com/story/mgm-resorts-looking-to-sell-another-vegas-hotel-2019-10-30
My advice to all myVegas players is cash in as soon as possible and then bear in mind that there may be changes in the rewards you will be able to purchase. So, as always: do NOT purchase chips because you may not get your money ‘back’ through the rewards.