MGM hires bank to sell casino assets: source

By Jui Chakravorty-Das and Megan Davies

NEW YORK (Reuters) - MGM Mirage (NYSE:MGM) has hired Morgan Stanley (NYSE:MS) to advise on selling a number of its casinos, and is talking to potential buyers about the assets, a source familiar with the situation said

The No. 2 casino operator, controlled by billionaire Kirk Kerkorian, is grappling with weak consumer demand and reduced access to credit. The casino firm is hoping to raise money to meet debt payments and also to fund a troubled project it jointly owns with Dubai World (DBWLD.UL) called CityCenter, the source said.on Sunday.

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