New York-listed MGM Resorts International has entered into a definitive agreement to sell its MGM Grand Las Vegas real estate assets in a deal worth $2.5bn.
A newly formed joint venture between MGM Growth Properties (MGP) and Blackstone Real Estate Income Trust (BREIT) will acquire the real estate assets as part of MGM Resorts’ ongoing asset-light strategy.
Combined with the previously announced Bellagio and Circus Circus Las Vegas deals, and assuming the redemption of $1.4bn in operating [...]
