“It’s retribution, and it’s an incredibly bad business decision because there is so much brand equity wrapped up in that Mirage name. Kirk Kerkorian would not have bought those resorts were it not for all the value and mystique that Steve Wynn created.”– Yr. Humble Blogger, ripping the proposed re-flagging of MGM Mirage as “MGM Resorts International.” Please forgive the self-quotation: This decision by MGM is so insanely bad it cannot be flayed often enough. Besides, between the cost of rebranding everything with the new moniker (right down to the stationery) and the lost equity value of the Mirage name, this is tantamount to setting tens — if not hundreds — of millions of dollars on fire.
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While I hate to see them drop Mirage from the name, the truth is they added twice as many properties with the Mandalay aquisition, & they didn’t change the name to “MGM Mirage Mandalay”
Very true, Mike, but “Mandalay Resort Group” was a far more recently coined name than was “Mirage Resorts” and, unlike Mirage, only lasted five years before going into the drawer. Speaking for myself, it was very hard to break the habit — still is — of referring to Mandalay by its previous, more familiar moniker … Circus Circus.
If Murren paid somebody to brainstorm “MGM Resorts International,” he should ask for his money back. It sounds like a timeshare chain.