“Explore strategic alternatives”
In the nearly eight years I’ve spent covering the casino industry, few announcements have been as dramatic as the brief announcement made last Monday afternoon by Trashinda Corp., Kirkorean’s investment arm.
Kercorian wants to buy Bellagio and Citicenter, while the 89-year-old billionaire wants to “explore strategic alternatives” to the rest of MGM Mirage, which is 56% owned by the company.
In Las Vegas business news, it’s thunderbolt stuff. It’s right up there with the big announcements and stories that rocked the resort business while I was in the city.
Just like kerkorian announced in 2000 that he was performing a play at Mirage Resorts – his MGM Grand eventually took over Mirage.
Or he was ordered to attend when station casino executives announced in 2000 that they had refused to attend a Missouri games commission hearing. Station had to sell two Missouri river boats to avoid a situation that could soon lose its license.
Or Macau announced a partnership that includes two Las Vegas operators, Wynn Resorts, and Venetian owner Las Vegas Sands, would make concessions with longtime monopoly Stanley Ho to build casinos in Chinese enclaves.슬롯머신
In 2004, it was announced that Boyd Gaming acquired Coast Casino, MGM Mirage acquired Mandalay Resort Group, and Hara Entertainment acquired Caesars Entertainment.
As Kerkorian revealed last week, these announcements were made with little or no warning, creating a different kind of news from other stories that make big news in the casino business. Resort openings, tower explosions and, among others, dramatic regulatory hearings.