The Blackstone Group has completed its more than $4 billion purchase of the Bellagio, in what appears to be the most expensive sale ever of a Las Vegas resort.
MGM Resorts International announced Monday that its sale of the Bellagio’s real estate to a joint venture owned almost entirely by Blackstone had closed.
The Las Vegas casino operator was to receive a 5 percent ownership stake in the joint venture and around $4.2 billion in cash.
Sponsor Message
MGM has leased back the Strip property and will continue to operate it. The Bellagio has more than 3,900 rooms and 155,000 square feet of casino space.
