MGM Mirage facing breakup: buyers circle casinos as Kerkorian races to cut deals with big lenders

Debt-ridden casino empire MGM Mirage is negotiating with creditors to avoid defaulting on debt, and running out of cash for daily operations and key expansion projects. Cash flow has slowed to an estimated $1 billion, but the company has maturing bond payments of $1.27 billion later this year, and existing interest payments of $674 million. It is speculated MGM Mirage will have to resort to the sale of assets.