MGM Sells Casinos

Las Vegas-based MGM Mirage announced October 16th it will sell two casinos in Laughlin, Nev., to a private investment group for $200 million.

The group is led by M Resorts chairman Anthony Marnell III and Sher Gaming’s Edward Sher.

MGM Mirage acquired the two hotel-casinos – Colorado Belle and Edgewater – when it bought Mandalay Resort Group last year.

The deal, subject to regulatory approval, is expected to close by the second quarter of 2007.