Winners and losers in the MGM Mirage/Mandalay Bay merger. Interesting, if I disagree with several points, especially the notion of the unions being a winner in the deal. Also, it downplays the notion of debt, which I think will be a huge albatross around the new company's neck. Especially if they go further in debt to renovate/redevelop their flagging properties. Given another terrorist attack (or airline strike, or continued rising fuel prices, or anything that hurts tourism significantly), the company could face a very serious threat to its very survival. In hard times, the merger could be a real boom to its competitors. If I was looking to invest in Vegas, Ceasar's and Boyd with look interesting (though, last I checked, not at their current prices). And I believe Wynn's new company is publicly trading, might be worth a look.