Casinos can sometimes be seen as a business that’s “too big to fail” particularly the long-established names across the Vegas strip – so when news emerges of casinos that are up for sale it does raise some eyebrows for what the reason could be, and whether or not there were underlying issues that hadn’t been mentioned. For both options that look to be hitting the market, it may not be a problem with liquidity, but perhaps more leaning towards owners looking to stay a bit lighter on assets – as casinos in Nevada have shown a record of bringing in over $1 billion in gaming revenue month after month, there will certainly be some interested parties.
MGM Resorts were the first to announce change as they look to sell The Mirage – revenue is reported to be up 140% from this time last year as big casinos continue to recover from the global health crisis amidst a time where some of the biggest online casinos were thriving, and that’s certainly what’s on the cards for MGM through reports that they may be looking to expand outwards as they already “have enough of Las Vegas” – this could mean expanding into markets outside of the US, or taking a look towards some more modern options too where online options are concerned.
The second name looking to sell comes from Caesars Entertainment who will look to offload one yet-to-be named strip casino – despite numbers soaring, Caesars may be reporting a $250 million loss for this year which may be spurring the urge to sell – this news did come earlier in the year following news of a delay to sell back in May, but it looks like plans are still very much moving forward to do so and there will be a lot of interest into finding out which casino will go up for sale, but there’s interest in expansion too with the success of their sportsbook which could see other markets emerging from the Entertainment giant.
Either way it’s good news – although sales may be on the horizon and two big casinos will go through a change in ownership, they’re not looking to go anywhere, and all of the same entertainment will remain for patrons. For those excited about the expansion into new markets, online casinos and online sportsbooks will likely look to emerge following this news from some of the bigger entertainment companies in Vegas with plenty of money behind them to ensure they succeed yet offering more exciting online opportunities too.