Discussion in 'Misc. Vegas Chat' started by RPMCanes, Jun 15, 2013.
...and was told that word around the campfire is that Steve might want the Bellagio back....
I have absolutely no inside knowledge here, but I think Wynn has always wanted Bellagio back. Having read biographies of him and about that old merger, I think part of Wynn regrets ever having done the deal. On some level, I think he knows he got it right with Bellagio and may never top it in terms of resort design.
On the other side, I can't imagine MGM would even consider selling it to anyone, particularly a strong competitor that would you that position to siphon off even more business from Aria.
Interesting to speculate about, though
There is NO CHANCE MGM will ever, under any circumstance sell Bellagio.
Don't believe me, recall they were an hour from Bankruptcy a couple of years ago and didn't reach out to make any deals to save themselves.
Steve does say that the Bellagio holds a special place in his heart. I heard it on the cab tablet.
Seems like this rumor continues to surface.
I would agree with an earlier poster - MGM is not about to let their prize get away, no matter how good the deal is. Unless Steve would take it along with City Center and a few other things. LOL!
I thought her name was Elaine....
That he wants it back is old news... that "rumor" has been going around for years. But I'd agree with what others said in that I just couldn't see MGM parting with it.
When they sold Mirage, he said he would consider buying back the B. But if it's not for sale, the whole idea is a moot point.
I would imagine he floats that rumor/desire out there based on the idea that if and or Wynn (haha get it) MGM gets in a bind with creditors it will be a well known fact that ready cash is available to help solve those issues in the form of selling off an upscale property
bond and debt holders are not going to look at "it is the Bellagio" they are going to look at "we want our money and we want it now" and then they can exit stage left and share holders and other lower level debt holders can deal with the results
MGM may have recently finally turned a small profit for a quarter, but they are hardly out of the woods by a long shot
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