Bloomberg reports that Blackstone Group is in advanced talks to buy, and then lease back, two MGM properties along the Strip.
MGM Resorts International has been exploring selling and leasing back the Bellagio and MGM Grand individually or bundled together.
The property sales would free up cash to expand while letting the company continue to manage their resorts.
Anonymous sources said the two sides have yet to agree on a transaction, and one may not be reached.
The terms of the potential deal weren’t available.
Bloomberg analysts say MGM Resorts could receive proceeds of up to $4 billion for the Bellagio and nearly $3 billion from a sale of MGM Grand.
Blackstone is a New York-based private equity firm whose other holdings in the gaming sector include the Cosmopolitan of Las Vegas, which it acquired in 2014 for $1.7 billion.