U.S. Census-at-a-Glance Widget

Tuesday, November 18, 2008

MGM Mirage still looking to sell

from GlobeSt (11/18):

November 18, 2008 12:13pm

MGM Mirage Looking to Sell Non-Core Assets
By Brian K. Miller

"LAS VEGAS- MGM Mirage is actively exploring the sale of undeveloped land on the Las Vegas Strip and elsewhere as it looks to improve its liquidity position in these tough economic times. The potential land sales, revealed Monday morning at an investor conference, are part of a larger disposition of non-core assets by the company that includes three company airplanes.

"We have an awful lot of land on the Strip, in the county and in the state," Murren reportedly said, estimating the company could raise about $300 million from such dispositions. "Land prices may be down but in many cases they are still far above what we have on our books." "...

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