mgm resorts international
MGM Resorts International Closes Sales of Circus Circus Las Vegas for $825 Million
MGM Resorts International | December 23, 2019
The transaction with an affiliate of Treasure Island owner Phil Ruffin also includes 37 adjacent acres. MGM Resorts International (the "Company" or "MGM Resorts") (NYSE: MGM) today announced that it has closed on its sale of Circus Circus Las Vegas and the 37 adjacent acres for $825 million, subject to final purchase price adjustments, to an affiliate of Treasure Island owner Phil Ruffin. The sale is part of the Company's commitment to its asset-light strategy designed to focus on MGM Resorts' core business and maximize value for its shareholders. The purchase price is comprised of $662.5 million in cash and a $162.5 million note due 20...
Blackstone Completes Acquisition of Bellagio Real Estate From MGM Resorts International for $4.25 Billion in Sale-Leaseback Transaction
Blackstone Real Estate | November 18, 2019
November 18, 2019 – New York and Las Vegas – Blackstone Real Estate Income Trust (“BREIT”) and MGM Resorts International (“MGM Resorts”) (NYSE: MGM) today announced the closing of the previously announced 95%/5% BREIT-led joint venture with MGM Resorts to acquire the real estate assets of the Bellagio for $4.25 billion in a sale-leaseback transaction. As part of the transaction, MGM Resorts has leased the property from the joint venture and continues to manage, operate and be responsible for all aspects of the property on a day-to-day basis. The transaction was announced on October 15, 2019. Advisors Weil, Gotshal & ...
Hakkasan Group and MGM Resorts International Transition Las Vegas Venues to MGM Management
Hakkasan Group | May 8, 2019
LAS VEGAS, May 7, 2019 -- Hakkasan Group and MGM Resorts International, two leading hospitality companies, announced today that the management agreements between them for Stack at The Mirage; Fix, Yellowtail, and Lily Lounge at Bellagio, as well as Alibi Ultra Lounge and Herringbone at ARIA, will end effective May 31, 2019. These venues will continue to operate under MGM Resorts' control. Hakkasan Group will continue to manage JEWEL Nightclub and Liquid Pool Lounge at ARIA, 1OAK Nightclub at The Mirage, Wet Republic Ultra Pool, Level Up at MGM Grand as well as the Hakkasan Group-owned venue Hakkasan Nightclub and Restaurant. The str...
MGM Resorts International Appoints Atif Rafiq as President of Commercial and Growth
Atif Rafiq | April 3, 2019
LAS VEGAS, April 3, 2019 -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today announced the appointment of highly respected leader in digital business and companywide transformation, Atif Rafiq, as President of Commercial and Growth, reporting directly to Chairman and CEO Jim Murren. Rafiq has extensive experience in rethinking and transforming global organizations, reshaping consumer behavior and delivering significant, measurable, new sources of profitability for companies. With this new role, Rafiq will develop new customer experiences, business models and revenue streams, including laun...
MGM Resorts International Appoints Corey Sanders as CFO and Bill Hornbuckle as President and COO
MGM Resorts International | February 22, 2019
LAS VEGAS, Feb. 22, 2019 -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today announced changes to its leadership team and a streamlining of responsibilities to empower leaders to drive the Company's strategic direction and implement change as part of its MGM 2020 initiative. Current Chief Operating Officer Corey Sanders will be appointed Chief Financial Officer and will lead the strategic financial transformation that is part of MGM 2020 and will integrate that work with the departments he currently leads including information technology, enterprise analytics, sales and consumer market...
Longtime Gaming Executive Bobby Baldwin to Leave MGM Resorts International
MGM Resorts International | October 5, 2018
LAS VEGAS, Oct. 5, 2018 -- MGM Resorts International (NYSE: MGM) ("MGM Resorts") today announced that Robert Baldwin, Chief Customer Development Officer of MGM Resorts and CEO and President of CityCenter, will be leaving his positions at both companies later this year. Few have played a more central role in the growth and transformation of the gaming industry than Bobby, and his contributions over more than three decades are immeasurable. MGM Resorts thanks Bobby for all he has done for the company and all he has meant to this industry and wishes him the best for the future. ...
MGM Resorts to Acquire Operations of the Hard Rock Rocksino in Northfield, Ohio from MGM Growth Properties for $275 million
MGM Resorts International | September 19, 2018
LAS VEGAS, Sept. 19, 2018 -- MGM Resorts International ("MGM Resorts") (NYSE: MGM) and MGM Growth Properties LLC ("MGP") (NYSE: MGP) today announced that they have entered into an agreement whereby MGM Resorts will acquire all of the operating assets of the Hard Rock Rocksino Northfield Park (the "Rocksino") from MGP and lease the real property associated with the Rocksino from a subsidiary of MGP. MGM Resorts will pay total consideration of approximately $275 million, subject to customary working capital and other adjustments. The Rocksino will be added to the existing master lease between MGM Resorts and ...
CityCenter Holdings Closes on Sale of Mandarin Oriental Las Vegas
CityCenter | August 31, 2018
LAS VEGAS, Aug. 31, 2018 -- CityCenter Holdings, LLC ("CityCenter"), a venture between MGM Resorts International (NYSE: MGM) and Infinity World Development Corp, today announced that it has closed on the sale of the Mandarin Oriental Las Vegas and adjacent retail parcels for $214 million in cash. CityCenter expects to use the proceeds from the sale to pay a dividend to its shareholders. "CityCenter has continued to deliver strong operating results and has cemented itself as a premier luxury destination in Las Vegas," said Jim Murren, Chairman and Chief Executive Officer of MGM Resorts International. "As a result...
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