MGM Buys CityCenter, Selling Aria and Vdara

A deal has been struck where MGM buys CityCenter on the Las Vegas Strip from Infinity World Development for $2.125 billion. Infinity and MGM had each owned 50% of the property. The deal then allows MGM to then sell the real estate of the Aria and Vdara to the Blackstone Group for $3.89 billion. The agreements for both CityCenter and the resort properties should be completed this fall, after which MGM will pay the Blackstone Group $215 million per year for rent as they continue to operate both hotels. Blackstone already owns the Cosmopolitan of Las Vegas, also located at…

The post MGM Buys CityCenter, Selling Aria and Vdara appeared first on This Week in Gambling.

Original source: https://www.thisweekingambling.com/mgm-buys-citycenter-selling-aria-and-vdara/

About the author