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MGM group in financial problems
Mar 5, 2009
It has recently been posted on many websites and now the news is official. The MGM group is in dire straights.
Even thought the MGM group has not ventured into online poker, it is still a very important part of the poker World. Not only do they own the MGM Grand and the Mirage, but also the world (poker) famous Bellagio.
It has now transpired that the MGM group has asked to reveal the financial results at a later date then normally is the plan, this just to make sure they can come up with accurate figures and with a possible solution. 17th March is the new date for the year results, but till September 2008 the group lost a staggering $13 Billion.
It seems needed that the visitor numbers will increase impressively over the next few weeks or liquidation might be needed.
With all this going on the “city centre” project on “the Strip” in Las Vegas might be in jeopardy as well, as the MGM group is one of the largest investors in this already legendary project.
Now seems to be the time for all Las Vegas poker players and for all the poker players that will visit Las Vegas to rally behind a few of the poker icons and flock to the MGM Grand or the Mirage. If the bankroll allows it then the Bellagio is not a bad place to play poker either.
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