An article in the Wall Street Journal today discusses the possibility of more asset sales at MGM Mirage - perhaps enough that it may look more like a breakup of the company than just shedding a few hotel rooms.
(if that doesn't work, you can probably access through Google here)
While MGM Mirage shareholders might not love the idea of the best assets being sold off at potential fire-sale prices, maybe this would be good for The Strip and Las Vegas.
As others have said, when ARIA opens, will Bellagio suffer? If it had a different set of owners, they could compete head-on, full bore.
One thing is for sure - MGM Mirage has bet the farm on City Center.