Today, MGM Mirage announced plans to possibly sell its MGM Grand casino in Detroit after getting a rather large amount of offers from prospective buyers.

Under Michigan law, companies cannot own more than one casino in Detroit.

MGM Grand Detroit and MotorCity are both reportedly prosperous properties. Originally the company anticipated that it would sell its majority interest in MotorCity. Now, after making that preliminary determination the company has been contacted by many companies interested in buying MGM Grand Detroit instead, and the company is now considering it.

The current MGM Mirage-Mandalay merger is said to be slated to be complete by the first quarter of 2005.

At this time, MGM Mirage isn't saying who any of the potential buyers are, but they are probably larger companies that have the major cash-flow it will most definitely need to meet the purchase price and the millions of dollars it will no doubt need to invest to transform the property to it's permanent new look.

Analysts expect that the property sell for up to$1 billion.