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MGM Resorts agrees $2.5bn sale of MGM Grand Las Vegas retail estate

15th January 2020 8:25 am GMT
MGM Resorts

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 [...]

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