MGM Mirage lost almost $100M this past quarter, and $66M of that was directly due to its underperforming new Las Vegas mega-property CityCenter. Regardless, CityCenter CEO Bobby Baldwin claims the massive hotel/casino/sinkhole will break even this coming quarter. If that strikes you as impossibly over-optimistic, it helps to know that Baldwin was playing poker (illegally) with 65-year old men when he was a boy of 14, so he’s not unaccustomed to bluffing. Read more.
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