MGM Mirage to Sell

LAS VEGAS – Gambling giant MGM Mirage said Thursday it plans to sell its Golden Nugget Las Vegas and Golden Nugget Laughlin hotel-casinos for $215 million to a Las Vegas-based private investment firm.

The agreement with Poster Financial Group, Inc. is subject to conditions including regulatory and governmental approvals, according to a statement.

Poster Financial Group is owned by Timothy Poster and Thomas Breitling, founders of the travel Web site Travelscape, which they later sold to Expedia.

Terry Lanni, chief executive at Las Vegas-based MGM Mirage, said the sale is expected to be completed before the end of the year.

The Golden Nugget Las Vegas is the largest hotel-casino in downtown Las Vegas. It opened as a gambling hall in 1946 and now has 1,907 guest rooms and about 3,000 employees.

Casino developer Steve Wynn bought it in 1972, and the Golden Nugget in Laughlin in 1988.

The Golden Nugget Laughlin has 300 rooms and about 1,000 workers.