Parts of CityCenter could be For Sale

MGM Resorts International would consider selling off parts of CityCenter in order to reduce the project's huge debt load.

During MGM's earnings call this morning, CEO Jim Murren said the Crystals mall was particularly attractive for a possible sale, and even mentioned that the shopping complex was built with a plan to sell it off eventually. Not sure I'm buying that part.

The company isn't going to sell Aria, but would be also be open to take offers on the non-gaming Vdara and Mandarin Oriental hotels.

The biggest downside I can think of with selling Crystals would be MGM's loss of that part of the Strip and the ability to funnel people back to Aria. On the other hand they are building a huge Aria marquee that should help with that, and I assume the eventual buyer of Crystals would have some kind of agreement to be Aria pedestrian friendly.