MGM Grand Detroit, the city's largest and most profitable casino, is up for sale.
It's just one property across Las Vegas-based MGM Mirage's multinational empire being pitched to buyers as the debt-ridden company seeks to shore up its balance sheet, two sources familiar with the matter confirmed Sunday.
The specter of a sale of MGM Grand Detroit and other profitable properties like Bellagio on the Vegas Strip comes as MGM Mirage is seeking to erase tens of billions in debt, much of it financing the company's $8.6 billion CityCenter venture in Las Vegas.
Selling very profitable entities (and what is a casino but a private license to print money?) to balance out bad real estate bets has got to hurt.
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