MGM Resorts Selling MGM Grand, Mandalay Bay For About $2.5B

By Associated Press

Published January 14, 2020 at 1:30 PM PST

MGM Resorts International is selling the MGM Grand and Mandalay Bay resorts and casinos on the Las Vegas Strip to a joint venture for about $2.5 billion.

The joint venture includes private-equity and real estate company Blackstone Group and MGM Growth Properties LLC.

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MGM Resorts anticipates cash proceeds of approximately $2.4 billion. The deal is expected to close in the first quarter.

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