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So, if the Mirage is sold What happens to my Comps and my host?

Discussion in 'Comps' started by Mafioso, Jul 28, 2015.

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  1. Mafioso

    Mafioso Low-Roller

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    I have a five night comped stay and a 200 dollar resort credit for October 15 thru October 20th

    Will this affect my stay?

    Also will my host more than likely be staying with the new ownership or will he move along to another MGM Property?

    Best thing possible is since I have a good history of Play time/action at the Mirage
    It could give me two comp outlets as the new ownership would want to keep the players coming to the Mirage and M-Life will also be fighting to keep its Mirage Clients and offer the same comps to different MGM Properties.

    Does any of that make sense?
     
  2. dicecube

    dicecube Tourist

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    You could try contacting your host to ask if he will be moving or not as only he will have a definitive answer. Also mention to him to keep you in mind if he is vacating Mirage as you may get offers from a totally different property then.

    It will take a lot longer for anything to happen then your future October dates so I would not worry that right now. There has not even been an official announcement yet.
     
  3. FuzzyDiceCraps

    FuzzyDiceCraps High-Roller

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    Keep in mind, this is still a rumor from what I can tell, and may or may not even be happening. That being said.

    Generally speaking when real property or a business entity is sold, it is sold with all of its outstanding assets and obligations. This would include any contractual offers/agreements in place, such as rented rooms, offers, etc. Not only would the transaction likely not close before the end of the year, but even if it did, your accepted offers should remain unchanged.

    As for the host, that's a personnel issue. Employees of the Mirage would likely be retained, at least initially, until the new ownership put their own policies and procedures into place. The new owners aren't going to come in and hire all new personnel, that is a logistical, financial and administrative nightmare. However, if the host is technically an employee of MGM Resorts (I'm not sure how MGM structures their host network), he would likely remain with MGM and not Mirage. I think hosts with MGM are employed by the Casino, as opposed to CET where the hosts are employed directly by the corporate body. But that is a best guess from what I know, I might be wrong.

    Obviously anytime a transition like this occurs it results in a freak-out, but as someone who handles mergers/acquisitions professionally I can tell you the vast majority of the time these concerns are unwarranted and the transitions occur without anyone noticing a change initially. The changes will undoubtedly come (whether for the better or the worse is yet to be seen), but the new owners likely will not rock the boat until they have had some time to evaluate their new investment and determine how they want to direct its policies moving forward.
     
  4. Funkhouser

    Funkhouser In Charge of the Big Door

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    Having been on the logistics side of multiple asset purchases and divestitures, your host won't even know until they identify in scope and out of scope employees that are part of the deal.
    MGM will negotiate with the buyer for terms. Employees get complicated due to union and non union in Vegas, what riders are in the union agreement, severance for reductions in workforce as part of the deal, etc. Then you will have transition agreements to ensure the property keeps operating once the deal is signed, closed, and finally they transfer all business over to the buyer (contractors, rewards programs, vendor agreements, etc) My best guess is there will be a transition period in which the new owners will license the Mlife player system. Then there is the question of who owns the marketing data, does the new buyer get it part of the deal, do they have to pay a fee, are the bared from sharing customer data by the privacy agreement, etc, etc, etc.

    However Hosts are like sales people. If they don't like the new deal they will jump ship rather than get caught up in a non compete agreement with the new buyer.

    There will be plenty of time for this deal to work it self out, and I would say short term impact to Mirage customers will be minor. Worst case MGM could honor marketing offers at other properties. Players represent a valuable asset (most times) to the corp, and cost of acquiring new customers vs established ones with brand loyalty in a competitive market like Vegas is costly.
     
    Last edited: Jul 28, 2015
  5. Grid

    Grid VIP Whale

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    If its anything like what happened with MGM sold off Treasure Island you will be OK. My offers still came like they did before and my host stayed there as well. Interestingly my TI players club number is the same as my Mlife one. So I assume they took over the player database as well.
     
  6. nostresshere

    nostresshere Mr. Anti Debit Card

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    Assuming the deal goes through:

    1 - They are also buying a customer base. They WANT those customers - at least the good ones. They are not gonna turn you away.

    2 - They are buying the staff. NOBODY can afford or wants to get all new staff. Yes, they will thin the herd where needed.

    3 - MGM also wants you and they already have a good history of you. They will fight to retain your business.
     
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