Nevada Companies May Sell Casinos to Highest Bidders

15 May 2009

The experts say that big gambling enterprises, owning most casinos in the state of Nevada, will have to sell some of their resorts in order to escape the financial problems that occur as a result of the economical crisis. 

In the interview for the Las Vegas Review-Journal, William Eadington of the University of Nevada said that such companies as MGM Mirage, Las Vegas Sands and Harrah's may see the spin-offs in future.  Last year MGM already sold Treasure Island Casino and now is planning to put on sale casinos in Detroit and Biloxi. Still the company officials state that the changes will not involve Las Vegas venues.

According to the rumors around Harrah's, the company will sell the Rio All-Suite Hotel and Casino as it is not a good idea to give up any of the Las Vegas casinos which form a good section on the Strip. 

However, the experts are convinced that the buyers will wait too long before the prices drop. The owners are not going to decrease much the prices that is why the potential buyers can miss the chance to acquire profitable property.

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