MGM Resorts Making Deals In Las Vegas

By | November 8, 2021

During the company’s third-quarter earnings call, MGM Resorts CEO Bill Hornbuckle casually announced that the company is beginning the sales process for The Mirage.

Since MGM Resorts doesn’t own the real estate, it’s only selling operations at The Mirage. A company will have to negotiate either a lease or real estate with the VICI, the real estate company that owns the land.

In September, MGM Resorts International announced it was purchasing operations of The Cosmopolitan. The international casino operator will take over the property when the deal closes next year.

A day later, MGM Resorts announced it was purchasing the 50% interest in City Center it didn’t own. The company then flipped the land to Blackstone (partial owner of The Cosmopolitan’s land). MGM Resorts will still operate Aria and Vdara so nothing will change for visitors to these properties.

That’s a lot of action for one company in Las Vegas.

Future of The Mirage

The sales process for The Mirage is just beginning. Hornbuckle didn’t announce who MGM Resorts was negotiating with. He also didn’t share a timeline on when a deal could be completed.

It usually takes six to nine months for a casino sale to be finalized and approved by the Nevada Gaming Commission. For example, Palms was sold in May and that deal won’t close until late December. The property should reopen under new ownership in the first half of 2022.

There shouldn’t be many changes at The Mirage until late next year at the earliest. It’s possible a new owner won’t take over operations of The Mirage until 2023.

There are plenty of potential buyers for The Mirage. It doesn’t make sense to speculate on how blackjack rules could potentially change since there are so many potential operators. Having said that, low rolling blackjack players might have something to look forward to when a new casino operator takes over The Mirage.

The Mirage currently spreads 6:5 blackjack games for its $10 and $15 tables according to the most recent survey from Vegas Advantage. A new casino operator could come in and offer the same excellent 3:2 blackjack games The Mirage’s neighbor. Treasure Island offers plenty of 3:2 blackjack games for players looking for a minimum bet under $25.

The Mirage is considered an upper-middle-class casino on the Vegas Strip. Almost every comparable casino offers 6:5 blackjack to low rollers. We probably won’t see a drastic change in blackjack rules at The Mirage. That doesn’t mean we can’s hope for the best even if we expect the worst.

Blackjack at The Cosmopolitan

Similar to most MGM Resorts property The Cosmopolitan only offers 6:5 blackjack games when the minimum bet is under $25. On a busy night, there might not be any 3:2 blackjack games outside of the high-limits room.

The Cosmopolitan blackjack games should remain equally unplayable for experienced players after MGM Resorts takes over.

There will be one change that will affect all customers at The Cosmopolitan. When MGM Resorts takes over operations it will also bring over its rewards club. It will take some time to convert all systems to M Life Rewards but The Cosmopolitan should become part of the MGM family in the first half of 2022.

More New Casino Operators On The Vegas Strip Next Year

The Venetian and Tropicana were sold separately this year. Both casinos should see new operators in the early part of 2022.

The Venetian sale is expected to close in the first quarter of 2022. Apollo Global Management will operate the casino. The company doesn’t have a recent history of casino operations to know if they’ll change the dreadful blackjack games at The Venetian and The Palazzo.

It’s been years since The Venetian offered a 3:2 blackjack game with less than a $25 bet. Vegas Advantage shows the price of a minimum bet for 3:2 blackjack games at The Venetian is now $50.

Keep your fingers crossed that the new operators of The Venetian will lower the minimum bet for a 3:2 blackjack game.

Moving south on the Vegas Strip, Bally’s Corp. will take over operations of the Tropicana next year.

The Tropicana is one of the few casinos on the Vegas Strip that offers 3:2 blackjack games with a minimum bet under $25. Look for this to continue when Bally’s takes over.

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