For the past several weeks, rumors of a potential sale of The Mirage have been making the rounds. Personally, I've heard at least two different versions and one from a credible source, though no one that has claimed direct knowledge of a deal.
Today, Howard Stutz in the RJ has a piece that made the front page 'Breaking News' section on the persistent rumors:
In all the versions of the story I keep hearing, the buyer is always Penn National, with Pinnacle Entertainment a distant second chance possibility. The rumored price is typically between $1.2 and $1.5 billion.
MGM Mirage has consistently said that they evaluate all offers but they have nothing to announce.
Still, does this sale make sense for MGM Mirage? Without a dollar figure, it's hard to say but as Stutz indicated, if liquidity is enough of an issue to force this, I would have expected other assets to be divested first, such as the 50% stake in Borgata or perhaps something like Luxor. Of course, The Mirage may be the only asset that this buyer wants (and can afford - I'm sure they'd love Bellagio).
The Mirage has recently been significantly re-worked and would be a great Las Vegas starting point for a company like Penn.
And to those that keep hoping Steve Wynn would buy the hotel back - no chance (unless the price was super-low). He's looking one direction and that's forward.
UPDATE: As stated in the comments, the RJ link is dead and the home page now includes a note saying Penn Natl is not interested... At this time...