Close

Cart

Total $0.00

Checkout

LAS VEGAS, April 26, 2018 -- CityCenter Holdings, LLC ("CityCenter"), a venture between MGM Resorts International (NYSE: MGM) and Infinity World Development Corp, today announced that it has recently entered into a definitive agreement to sell the Mandarin Oriental Las Vegas (the "Hotel") and adjacent retail parcels for approximately $214 million in cash, subject to satisfactory completion of due diligence and customary closing conditions.  The transaction is expected to close in the summer of 2018.

The Hotel is located at the entryway of CityCenter and in the heart of the Las Vegas Strip featuring 392 guestrooms, including 57 suites, 12,000 square feet of meeting space, five food and beverage outlets, and a two-level 27,000 square-foot spa.  The Hotel is LEED® Gold certified from the U.S. Green Building Council.

About CityCenter

CityCenter, which is 50% owned by a wholly owned subsidiary of MGM Resorts International and 50% owned by Infinity World Development Corp (a wholly owned subsidiary of Dubai World), is a mixed-use development on the Las Vegas Strip located between the Bellagio and Monte Carlo resorts that includes ARIA Resort & Casino, a 4,004-room casino resort; Vdara Hotel and Spa, a 1,495-room luxury condominium-style hotel; and the Veer Towers, which contain 669 luxury condominium residences. 

Contact: Catherine Park

cpark@mgmresorts.com / (702) 693-8711

Related News

CityCenter Holdings Closes on Sale of Mandarin Oriental Las Vegas

MGM Resorts International and MGM Growth Properties LLC to Acquire Empire City Casino in Yonkers, New York

Mandarin Oriental Hotel Group Receives Notice of Termination for Management of Mandarin Oriental, Las Vegas

Sydell Group and MGM Resorts Continue Property-Wide Transformation of Las Vegas' Monte Carlo Now Branded as Park MGM

MGM Resorts International, Along with its Venture Partner, Enter Agreement to Sell the Grand Victoria Casino for $327.5 Million to Eldorado Resorts

MGM Resorts International Appoints Kelly Smith Senior Vice President and Chief Digital Officer

Debra DeShong Joins MGM Resorts International As Vice President Of Global Industry Affairs

StayNTouch and MGM Resorts International Redefining Hotel Check-in on the Las Vegas Strip and Beyond

MGM Resorts Appoints Mark Strawn Senior Vice President And Chief Administration Officer For MGM Resorts Design and Development

MGM Resorts International Reports Q1 2017 Net Revenues Increase of 29% to $2.1 Billion at the Company's Domestic Resorts; Las Vegas Strip Resorts Grew RevPAR by 8.6%

MGM Resorts International Reports a 17% Net Revenue Increase for Q4 2016 and 3% RevPAR Growth

MGM Resorts Expands Policy Presence by Opening a Washington, D.C. Office

MGM National Harbor Debuts in Maryland Introducing First Luxury Gaming Resort to the Capital Region

Industry Veteran Aaron Fischer Joins MGM Resorts International as Senior Vice President of Corporate Development

Diaoyutai MGM Hospitality Opens 162-Room Flagship Diaoyutai Hotel Hangzhou

MGM Resorts International Reports Q3 2016 Net Income of $536 million, a 706% Increase Over the Prior Year Quarter

MGM Resorts Executive, Michael Neubecker, Named New President and COO of MGM Grand Detroit

MGM Resorts International to Increase its Stake in MGM China Holdings Limited; Will Own Roughly 56% of MGM China's Outstanding Shares

MGM Resorts International Reports Second Quarter 2016 Financial And Operating Results

MGM Growth Properties LLC and MGM Resorts International Complete Transactions for Acquisition of Borgata Hotel Casino & Spa

All News »

Please login or register to post a comment.