LAS VEGAS (AP) — MGM Resorts to sell MGM Grand and Mandalay Bay on the Las Vegas Strip for $2.5 billion.
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. MGM Resorts anticipates cash proceeds of approximately $2.4 billion.
The deal is expected to close in the first quarter.