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MGM Resorts agrees deal to take full ownership of CityCenter

2nd July 2021 9:46 am GMT
Playtech

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 [...]

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