• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 29 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

MGM Resorts says all eyes on Japan with US$4.6 billion sale of iconic MGM Grand, stake in Mandalay Bay

Newsdesk by Newsdesk
Wed 15 Jan 2020 at 06:02
Macau Gaming Law series part 13: Provisions regarding other jurisdictions can cause legal conflict
103
SHARES
2.1k
VIEWS
Print Friendly, PDF & Email

MGM Resorts has announced the sale of its most iconic Las Vegas property, MGM Grand, and a sizeable stake in the real estate investment trust that holds Mandalay Bay in a massive US$4.6 billion transaction aimed at freeing up cash to further pursue its IR ambitions in Japan and in the growing US sports betting market.

In an overnight announcement, MGM revealed that ownership of both properties will be held by a new joint venture partnership between MGM Growth Properties LLC and Blackstone Real Estate Income Trust, including the acquisition of the MGM Grand real estate assets for US$2.5 billion. MGM Resorts, which will continue to run day-to-day operations at both properties at an annual cost of US$292 million, says it expects to receive net cash proceeds of approximately US$2.4 billion plus around US$85 million in MGM Growth Properties operating partnership units as part of the deal.

MGM Growth Properties will also pay US$1.4 billion for MGM Resorts’ existing operating partnership units and can redeem remaining units at any time over the next two years. The deal will see MGM Resorts’ ownership stake in MGM Growth Properties drop to around 55%.

Under the terms of the new joint venture between MGM Growth Properties and Blackstone Real Estate Income Trust, MGM Growth will own 50.1% with Blackstone holding the other 49.9%. The joint venture will subsequently acquire the real estate assets of Mandalay Bay from MGM Growth Properties which will be leased back to MGM Resorts as part of its annual US$292 million management deal.

This latest sale comes just months after MGM Resorts announced a similar transaction involving sale of the Bellagio, as well as selling Circus Circus Las Vegas, taking the total net cash raised by the company to around US$8.2 billion.

“Our corporate objective remains crystal clear,” said MGM Resorts Chairman and CEO Jim Murren. “We will continue to monetize our owned real estate assets, which facilitates our strong focus on returning capital to our shareholders, while also retaining significant flexibility to pursue our visible growth initiatives, including Japan and sports betting.”

RelatedPosts

Resorts World Las Vegas – Lighting up the north

Recovery of VIP gaming business helps Genting’s Resorts World Las Vegas book improved revenues of US$180 million in 2Q25

Fri 29 Aug 2025 at 05:30
Asia market roundup

Higher business volumes, margins at Resorts World Genting drive improved 2Q25 results for Genting Malaysia

Fri 29 Aug 2025 at 05:09
Aristocrat’s acquisition of ETG supplier Interblock said to have stalled over price

Aristocrat Gaming launches new “positive play” website

Thu 28 Aug 2025 at 05:30
Sons of NagaCorp founder Chen Lip Keong join Forbes list of Malaysia’s richest

Surging mass market sees NagaCorp gaming revenues, profit enjoy double-digit growth in 1H25

Tue 26 Aug 2025 at 05:30
Load More
Tags: casinoLas VegasLas Vegas StripMandalay BayMGM GrandMGM Growth propertiesMGM ResortsNorth Americareal estate
Share52Share6
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Resorts World Las Vegas – Lighting up the north

Recovery of VIP gaming business helps Genting’s Resorts World Las Vegas book improved revenues of US$180 million in 2Q25

by Ben Blaschke
Fri 29 Aug 2025 at 05:30

Resorts World Las Vegas (RWLV), the US flagship of Malaysian gaming giant Genting Berhad, saw revenues grow by 8% quarter-on-quarter to US$180 million and EBITDA by 80% to US$18 million in 2Q25, with the company pointing to improved hold and...

Asia market roundup

Higher business volumes, margins at Resorts World Genting drive improved 2Q25 results for Genting Malaysia

by Ben Blaschke
Fri 29 Aug 2025 at 05:09

Genting Malaysia reported group-wide revenue of MYR2.92 billion (US$692 million) in the three months to 30 June 2025, up 9% year-on-year thanks to improvements across all regions including a 10% increase in revenue at flagship Resorts World Genting (RWG) in...

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

Sands China celebrates 1.1 billion cumulative visitors to its Macau resorts

by Pierce Chan
Thu 28 Aug 2025 at 19:09

Sands China has now welcomed more than 1.1 billion guests across its Macau integrated resorts, representing a significant milestone in its more than 20-year history operating in Macau, the company stated Thursday. In an announcement that also coincided with the...

IAG names Grand Lisboa Palace Resort Macau as venue and SJM Resorts S.A. as Venue Sponsor for 2025 Power 50 Black Tie Gala Dinner

SJM reports widened 1H25 loss despite GGR growing almost 12% to US$1.90 billion

by Ben Blaschke
Thu 28 Aug 2025 at 18:54

Macau’s SJM Holdings reported a 7.5% year-on-year improvement in gross gaming revenue to HK$14.8 billion (US$1.90 billion) and an 11.8% increase in non-gaming revenue to HK$1.01 billion (US$130 million) in the first six months of 2025, although it wasn’t enough...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語