LAS VEGAS (KTNV) — MGM Resorts International is in the "early stages" of selling The Mirage.
MGM Resorts CEO and President Bill Hornbuckle made the announcement during an earnings call on Wednesday.
The following letter was sent to employees on Wednesday afternoon:
Colleagues,
Today we are announcing that, after careful consideration, we have made the decision to sell the operations of The Mirage to another operator, a move that we believe is best for the long-term success of both the property and MGM Resorts. The Mirage is a world-class, iconic property with unique attractions that is ripe for continued investment and development. It will be the crown jewel in another operator’s portfolio, which is why we believe a sale makes strategic sense at this time. We are committed to continuing to maintain and develop our existing Las Vegas portfolio with no plans for other changes on the Strip at this time.
I want to thank our valued team members at The Mirage for making it such an amazing property and for being excellent ambassadors of MGM Resorts. You truly embody what it means to serve others and create memorable experiences for our guests, and I know you will continue to do so during this transition.
On a personal note, I will always hold fond memories of The Mirage as I was part of the team that opened the property in 1989 and spent the early part of my career there. It’s a remarkable resort with great brand recognition and a strong, loyal following.
I know many of our Mirage team members and their colleagues will have questions about the future of the resort, and their role in it. I’m confident in the leadership team at The Mirage and know they will communicate openly and transparently during this time. Please know that we have not yet sold the operations of the property to another buyer, so for now and during an eventual transition, it’s business as usual.
The Mirage has served us well over the years, and I’m certain it will continue to be a success with a new operator in the future.
Thank you.
Bill Hornbuckle
CEO & President
