11/16/2023 0 Comments Which hotels and casinos does mgm own![]() ![]() MGM Resorts CEO and Chairman Jim Murren said in a statement that the Circus Circus and Bellagio deals will allow the company to return capital to shareholders and focus on its work to strengthen its position in the legal sports betting market and its efforts to expand into Japan, which recently approved a law allowing up to three casino-resorts to open in the nation. The Bellagio transition sees that resort join many other properties on the Strip that are already structured under lease-back deal. MGM previously announced the creation of a committee that would look into its real estate to determine how to monetize it. Both deals are expected to close by the end of the year. MGM Resorts will get a 5% ownership stake in the joint venture and about $4.2 billion in cash. MGM and the Blackstone investment group are forming a joint venture that is purchasing the Bellagio and leasing it back to an MGM subsidiary for $245 million annually. The MGM Grand is the largest single hotel in the world with 6,852 rooms. The company also sold the Bellagio for $4.25 billion. The MGM Grand Las Vegas is a hotel and casino located on the Las Vegas Strip in Paradise, Nevada. The Las Vegas-based company said it is selling the Circus Circus hotel-casino for $825 million to Treasure Island casino owner Phil Ruffin. LAS VEGAS - MGM Resorts International announced the sale Tuesday of two casinos that will significantly alter its portfolio of Las Vegas Strip properties and offer up cash. Digital Replica Edition Home Page Close Menu ![]()
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