Park Place Entertainment (PPE) and Harrah's Entertainment (HET) are reportedly contemplating taking a seat at the table in the bidding for Mirage Resorts (MIR) following Wednesday's surprise $3.4 billion acquisition offer for the gaming company from Kirk Kerkorian's MGM Grand (MGG) .
Neither of the new potential suitors is quite ready to move, but both are crunching the numbers to determine whether a bid of their own is feasible,
The Wall Street Journal
A key item some of these casino companies are considering is how much they could save in annual expenses by combining sales offices, eliminating duplicative management and even reducing discounts and other offerings to high-roller gamblers, the paper said. MGM believes it could save more than $150 million. Park Place executives, at least initially, think the savings would be around $80 million, sources told the
The paper reported that Harrah's remains cautious about making a bid, but said some observers suggested Harrah's Chairman Philip Satre would have an unusual advantage in approaching Mirage because he has good personal relations with most of Harrah's competitors.