MGM Buys Desert Inn, Sands
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Associated Press
LAS VEGAS — Los Angeles-based MGM Grand Inc. announced today it has purchased the Desert Inn and Sands hotel/casinos on the Las Vegas Strip for $167 million.
MGM Grand Inc. is owned by financier Kirk Kerkorian, who has long been active in Nevada gaming circles. The Desert Inn and Sands are currently owned by Summa Corp. Kerkorian built the MGM Grand hotels in Las Vegas and Reno, which were purchased by Bally Corp., and the International Hotel, which became the Las Vegas Hilton.
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