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Category: mgm mirage

Who Is Phil Ruffin? (Hint: He’s The One Who Just Bought MGM’s Treasure Island)

Andrew Calvo | December 15, 2008 | 0 Comments

In a pretty surprising move, MGM Mirage sold their Treasure Island Casino Resorton the Las Vegas strip to Phil Ruffin today. The casino sold for almost $775 million, $500 million in cash and $275 million in secured notes in a transaction that is already fully financed and scheduled to close in the second quarter of [...]

MGM Delays Atlantic City & Las Vegas Developments

Andrew Calvo | October 31, 2008 | 0 Comments

I cant say that I’m too surprised, but yesterday MGM Mirage announced that they are suspending development on two of their casinos – the MGM Grand Atlantic City and their joint venture with Kerzner International on the north end of the Las Vegas Strip. Both of these projects didn’t even break ground yet – so [...]

Cosmopolitan Las Vegas: Officially Foreclosed!! But Construction Will Continue

Andrew Calvo | August 15, 2008 | 12 Comments

I’ve been keeping a close eye on the status of the Cosmopolitan Hotel & Casino in Las Vegas since the beginning of the year when speculation first arose that Deutsche Bank was going to foreclose on the property due to Bruce Eichner’s inability to get his financing in order. The Cosmopolitan is made up of [...]

The Backstory of Bruce Eichner’s Cosmopolitan Resort & Casino

Andrew Calvo | May 11, 2008 | 4 Comments

Since I’ve had a lot of people ask me for status updates on the Cosmopolitan, here are some article jumps if you just want to get to a certain point: Current State of Project W Hotels/Related Companies Status Bruce Eichner (Developer) Background I’ve been a subscriber to the Wall Street Journal online since it first [...]

MGM Mirage Considering A Split of Hotel & Casino Operations

Andrew Calvo | May 9, 2008 | 0 Comments

Correction: I originally claimed Caesars was purchased by MGM Mirage, instead it was purchased by Harrahs. I’ve always admired MGM Mirage- they can easily be considered one of the largest hotel companies in the world based on number of rooms and employees – even though they have the majority of their properties in Nevada, but [...]

MGM Grand Atlantic City: Coming Soon

Andrew Calvo | October 10, 2007 | 9 Comments

With all the news coming out of Atlantic City over the past few weeks – their Mayor literally missing for almost 2 weeks, (he turned up in a mental institution, and resigned today), declining gaming revenues at almost all of the 11 Atlantic City casinos, Trump Entertainment Resorts having financial difficulties at all 3 casinos [...]