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The Leach: Mandalay Bay, LV Hilton For Sale

By Chuckmonster on Wednesday, 7th July 2010 4:52am
  » filed under Las Vegas  comments: 21


Should you be willing to stomach wading through four paragraphs and two photos of Criss Angel chillin with his villains at his secret gothic lair, The Leach is reporting that *gasp* Mandalay Bay and Las Vegas Hilton are involved in secretive sale negotiations with "well-heeled moneymen."

Hilton, yes... Colony Capital is up to their eyedrums in debt. Mandalay Bay? I seriously doubt the validity of this one, but if MGM were forced to peel something off the table in Vegas... this might be a contender only because it doesn't break up the bloc.

A whopping 51 minutes later, Bobby Leacheroni struck again... shaking his scuttlebutt all over a rumor that Harrah's will be converting Bill's Gamblin Hall into a "24 hour party palace." He goes on to tap dancing up, over and around pinning the Harmon-jilted "Light Group" to the project. Pure Entertainment Group makes more sense as they already operate at Caesars.

I don't buy that one at all. It certainly is in the realm of imagined possibility, but expecting Harrah's to right turn into a boutique hotel/nightclub business that doesn't particularly service their core demographic doesn't generate a whole lotta Loveman in my heart.

Bill's Gamblin Hall And Saloontz-oontz-oontz sure has a great ring to it.

On a more serious note, someone should do a statistical analysis of how accurate The Leach's rumor postings are. Whose up for a Leach watch?


Comments & Discussion:

The sale of M-B actually makes sense to me, as it provides a buyer with a turn-key, full-spectrum resort & convention center, but does not affect the core MGM holdings. MGM has some big debt payments coming due within the next 12-18 months, so raising cash has to be a priority.

I can definitely believe the MB rumor, that resort has been a wasteland every time I've gone in there in the last two years. MGM has to be having difficulty filling it and finding a niche. Plus a well marketed MB should benefit Luxor and Excal properties for MGM, without having to spend the budget on it.

Hilton's no surprise, Bill's I think is complete fairy tale. Robin I think was hanging out at some bottle service tale and overheard some of the 'club guys' talking about how cool it would be to take over a place like that.

MB has a monster convention center and is taking away business from the LV convention center and competes with Venetian convention center. Aria has less convention space than MB (300,000 sqft vs. 1.7 million sqft). That makes me hesitant to say MGM is willing to sell MB. If MGM needs cash, they may put back up for sale some non-LV properties (Tunica, Detroit, Biloxi) or even may consider adding the Mirage or Circus Circus to the for-sale list.

I'd believe the Mirage rumors before I'd believe the Mandalay ones. I'm sure MGM makes tons of money off of the convention center down there, even if the casino is a ghost town most of the time.

Just what the Strip needs, more douchebag hangouts.

I think MGM will try to sell off their non-Strip properties before they sell any more of their Strip properties. Someone like Boyd Gaming should make an offer on Railroad Pass and the Gold Strike. For some reason, I do not see MGM Resorts selling out their properties in Mississippi.

If they can ever sell off their stake in the Borgata, that should help some of the pending financial matters.

Leach doesn't have to be the laughing stock he's turned himself into. Instead of chasing every little, meaningless "exclusive" and making a big deal about events we hit the delete button on), he should be honing the position of Las Vegas' elder statesman.

Kudos to Norm! for being the anti-TMZ/Access Hollywood/Entertainment Tonight

If his Quantcast numbers are remotely close to his actual traffic, he's really wearing out his welcome with his readers:
Looks like he's cried wolf one too many times.

It appears you have twice as many readers as he does:

I could make a laundry list of the things he's doing wrong. But he works for the Evil Empire and I'm in NO mood to give them any kind of free consulting. My time is far better spent busting ass this summer to whip our own house into shape.

The one thing that bemuses me about Robin Leach is he is a complete unknown in his Home Country. I am not exaggerating when I say that 99% of people in the UK have probably never heard of him.

I would much rather see MGM sell off New York-New York and Circus Circus.

A few years ago, the rumor in Tunica, MS was MGM and Harrahs were going to 'swap' properties. MGM takes Harrahs/The Grand and Harrahs gets Gold Strike. That way all 3 Harrahs properties (Gold Strike, Horseshoe, Sheraton [now Tunica Roadhouse]) would be all lined together and the employess could walk from one to the other if help was needed. This also kept all Harrahs players (hopefully) at one of their 3 casinos. This also kept MGM players only at their place instead of them walking out of Gold Strike to the 2 Harrahs properties. The Grand was a 'lonesome' property a few miles away, so MGM players would have to drive or get taxi or take shuttle to leave the property (too much of hassle). So a win-win for Harrahs and MGM.

But this never happened.

I would see MGM selling Gold Strike in Tunica, MS before Beau Rivage in Biloxi, MS. Tunica numbers are really down while Biloxi numbers holding steady.

How is it possible that anyone sees Robin Leach as anything other than a bottom-feeder?

I guess this means that the MJ Cirque show goes to the Monte Carlo.

Ignoring all the jealous sniping. I reported that the moneymen were interested in acquiring Mandalay Bay and the Hilton. I did not say either were for sale. I never implied the Light Group had anything whatsoever to do with the proposed makeover of Bills Gaming Hall, the onetime Barbary Coast. You made an incorrect assumption there and Light Group is not the rumored takeover folks. . I hope I'm unknown in Britain because I haven't lived there for 50-years!

Jealous? Oh please.

Teee Heeee - Chuck is jealous of the Leachster.

Quit being so jealous!

Oh how the mighty have fallen. Now his genre is covered by the MTV crowd and he's tries to be Vegas' answer to Mike Walker......

I like Robin Leach. He said hello to me once while I was playing the Orange County Chopper slots at Luxor. Nice fellow.

If that was the real Robin Leach he would have finished his post with "Champagne Wishes and Caviar Dreams" no?

I think he sold that catchphrase off in order to pay off some debts......... ;)

Also, he didn't want to make Chuck more jealous than he already was.

I wonder if I'll be staying in the 'condo-style' accomadations he put a deposit down on in December. Hmm.

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