MGM Mirage, the largest operator of casinos on the Las Vegas Strip, fell in extended trading following a report that Carl Icahn and Oaktree Capital Management are pressing the company to file for bankruptcy.

Icahn and Oaktree purchased hundreds of millions of dollars of MGM Mirage bonds and have told the company it should overhaul its debts in bankruptcy, The Wall Street Journal reported.

The investors contacted the company last month recommending bankruptcy..

A bankruptcy filing could wipe out investor Kirk Kerkorian, who has a 53 percent stake in the company. Its shares fell 49 cents to $5.90. MGM Mirage has won waivers from lenders to pay $270 million on its CityCenter project in Las Vegas without partner Dubai World, giving the company time to settle over the project and restructure its own debt.