New York-listed casino operator MGM Resorts International has entered into a definitive agreement to purchase Infinity World Development Corp's 50 per cent stake in CityCenter Holdings for $2.125bn.
The agreement will make MGM Resorts the full owner of CityCenter on the Las Vegas Strip, which is comprised of Aria Resort & Casino and Vdara Hotel and Spa.
The purchase price represents an implied valuation of $5.8bn based on net debt of $1.5bn, after giving effect to the [...]
