#MGM Growth

News 5 Cleveland

MGM reportedly eyeing potential sale of gambling interests at Northfield Park

NORTHFIELD, Ohio - MGM Resorts International is reportedly exploring the sale of its gambling operations at Northfield Park, according to a report from Bloomberg. The report said talks are only preliminary and may not result in any action. The Northfield Harness Racing Track opened as the Hard Rock Rocksino with much fanfare in December 2013. It is…
Land-based
MGM reportedly eyeing potential sale of gambling interests at Northfield Park
commercialsearch.com

REITs Lead Charge to Consolidate Casino Real Estate

The slowdown in transactions across commercial real estate as a result of higher interest rates is unlikely to dramatically change in the near term as the question of value continues to plague buyers, sellers and lenders. But properties that house gaming operators are proving the exception. Not only did casino tenants pay rent when closed during…
Land-based
REITs Lead Charge to Consolidate Casino Real Estate
Super Slots
The Mercury News

What’s coming to Las Vegas casinos and resorts in 2023

In 2022, Las Vegas announced several new projects coming to The Strip and beyond. Many acquisitions, such as Hard Rock's purchase of The Mirage, have become more official, while Station Casinos plans to build several properties by 2030, including Durango Casino & Resort, which will open late next year. The results of those construction plans, new…
Land-based
What’s coming to Las Vegas casinos and resorts in 2023
Los Angeles Daily News

Las Vegas: What’s coming to casinos and resorts in 2023

In 2022, Las Vegas announced several new projects coming to The Strip and beyond. Many acquisitions, such as Hard Rock's purchase of The Mirage, have become more official, while Station Casinos plans to build several properties by 2030, including Durango Casino & Resort, which will open late next year. The results of those construction plans, new…
Land-based
Las Vegas: What’s coming to casinos and resorts in 2023
Wild Casino

$5,000 Welcome Bonus

Deposit bonuses are optional and must be requested by the player when making a deposit. For example, use Promo Code WILD1 to a 100% Casino bonus. Your bonus request will be assessed and, if your account is eligible for the bonus, it will be added to your account immediately.
Northern Nevada Business Weekly

Tribal owner of Hard Rock now running Mirage in Las Vegas

LAS VEGAS - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Dec. 19, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Florida-based Hard Rock International, owned by the Seminole Tribe,…
Land-based
Tampa Bay Times

Florida-based Hard Rock now running Mirage on Vegas Strip

LAS VEGAS - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Monday, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Florida-based Hard Rock International, owned by the Seminole Tribe,…
Land-based
9 News

Tribal owner of Hard Rock now runs Mirage

LAS VEGAS - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Monday, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Florida-based Hard Rock International, owned by the Seminole Tribe,…
Land-based
Tribal owner of Hard Rock now runs Mirage
KOLO

Tribal owner of Hard Rock now running Mirage on Vegas Strip

LAS VEGAS, Nev. (AP) - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Monday, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Florida-based Hard Rock International, owned by the Seminole…
Land-based
Tribal owner of Hard Rock now running Mirage on Vegas Strip
RELATED LOCATIONS
CBS News

Florida-based Hard Rock International now running iconic Mirage resort in Las Vegas

LAS VEGAS - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Monday, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Hard Rock International, owned by the Seminole Tribe, said it plans to…
Land-based
Florida-based Hard Rock International now running iconic Mirage resort in Las Vegas
Fox 5 Vegas

Tribal owner of Hard Rock now running Mirage on Las Vegas Strip

LAS VEGAS (AP) - A new operator, Hard Rock International, started running the iconic Mirage resort on the Las Vegas Strip on Monday, following Nevada state gambling regulatory approval for a nearly $1.1 billion sale by former site owner MGM Resorts International, the companies said. Florida-based Hard Rock International, owned by the Seminole…
Land-based
Tribal owner of Hard Rock now running Mirage on Las Vegas Strip
The Nevada Independent

Indy Gaming: Research gives AGA ammunition in fight with illegal gambling operations

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz American Gaming Association CEO Bill…
Industry
Indy Gaming: Research gives AGA ammunition in fight with illegal gambling operations
CNBC

Big Las Vegas property owner to take full ownership of two casinos

The largest property owner on the Las Vegas Strip is doubling down and taking full ownership of the MGM Grand Las Vegas and Mandalay Bay, which the deal values at $5.5 billion. VICI Properties, a real estate investment trust based in New York, has agreed to buy Blackstone's 49.9% stake in the two Las Vegas casino resorts. VICI currently owns a…
Land-based
Big Las Vegas property owner to take full ownership of two casinos
RELATED CATEGORIES
Review Journal

Rocky Gap Casino Resort being sold by Strat owner Golden Entertainment to Colorado company for $260 million

Golden Entertainment Inc., operator of the Strat, Arizona Charlies and dozens of taverns under the PT's brand, is selling its Rocky Gap Casino Resort in Maryland for $260 million. Las Vegas-based Golden on Thursday said it is selling the casino real estate in Flintstone, Maryland to real estate investment trust Vici Properties Inc. for $203.9…
Travel
Rocky Gap Casino Resort being sold by Strat owner Golden Entertainment to Colorado company for $260 million
The Street

MGM Shares Plans for Its New Las Vegas Strip Property

The Las Vegas Strip has become some of the hottest real estate on Earth. The 4.2-mile stretch of road has become a battleground where interlopers like Resorts World Las Vegas try to unseat the established market leaders Caesars Entertainment (CZR) - Get Caesars Entertainment Inc. Report, MGM Resorts International (MGM) - Get MGM Resorts…
Land-based
MGM Shares Plans for Its New Las Vegas Strip Property
The Nevada Independent

Indy Gaming: ‘Economic challenges’ keeping five Clark County casinos closed into 2023

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Five Southern Nevada casinos that never…
Lottery
Indy Gaming: ‘Economic challenges’ keeping five Clark County casinos closed into 2023
RELATED BRANDS
The Street

This Stock Might Be the Best Las Vegas Strip Investment

Las Vegas offers the promise of getting rich. In most cases, that's a false promise as the house usually wins, but you can make money on Sin City without throwing any dice, playing cards, or taking a turn at the slot machines. Las Vegas has a surprising number of investment options and the best one might be a company you've never heard of (or maybe…
Land-based
This Stock Might Be the Best Las Vegas Strip Investment
Northern Nevada Business Weekly

Caesars spinoff VICI closes on big Vegas Strip property deal

FILE - A plane takes off from Harry Reid International Airport near casinos along the Las Vegas Strip, on Sept. 29, 2021, in Las Vegas. Caesars Entertainment spinoff VICI Properties said April 29, 2022, that it completed its $17.2 billion buyout of MGM Growth Properties, the Las Vegas Review-Journal reported. The deal was first announced last…
Travel
Caesars spinoff VICI closes on big Vegas Strip property deal
The Nevada Independent

With Cosmopolitan sale nearing, Blackstone still has money on Vegas

Blackstone Group's time as a Strip casino operator is drawing to a close, but that doesn't mean the New York-based investment conglomerate is done with Las Vegas. Through its Blackstone Real Estate Investment Trust (REIT), the company will continue to own the land and buildings associated with four Strip properties operated by MGM Resorts…
Gaming Authorities
With Cosmopolitan sale nearing, Blackstone still has money on Vegas
The Street

Forget Caesars and MGM. The Las Vegas Strip Has a Secret Leader.

Las Vegas has a lot of big-name operators that grab the spotlight. Caesars Entertainment (CZR) - Get Caesars Entertainment Inc Report, for example, has its name splashed across its signature property, the massive Caesars Palace. It's not subtle, which makes sense given that the casino giant wants people to stay at its resorts, gamble in its casinos…
Land-based
RELATED AFFILIATES
Seeking Alpha

VICI Properties: A High-Quality Casino REIT Stock (NYSE:VICI)

VICI Properties (NYSE: NYSE: VICI) is a leading gaming and hospitality REIT that owns and acquires casinos and hotels around the U.S. They own premier casinos like Caesars Palace, Harrah's, and Venetian and collect rent from the operators based on a triple net lease. Since VICI's formation, it has grown at a rapid pace, and they now hold an…
Land-based
VICI Properties: A High-Quality Casino REIT Stock (NYSE:VICI)
The Boston Globe

Wynn Resorts cashes in on Everett casino in $1.7 billion deal

Wynn Resorts is selling off its Encore Boston Harbor casino property in Everett, though patrons shouldn't notice any difference at all. On Tuesday, Wynn announced a $1.7 billion sale to Realty Income, a large real estate investment trust, and aims to use the proceeds, in part, to help fund development plans across Broadway from the casino. But no,…
Travel
Wynn Resorts cashes in on Everett casino in $1.7 billion deal
Review Journal

Las Vegas’ top real estate deals of 2021

Like countless other cities, Las Vegas spent the past year grappling with the pandemic and recovering from the economic disaster it unleashed in 2020. It also saw a burst of lucrative casino sales on the Strip as tourism rebounded from the public health crisis. Here is my list of Las Vegas' top 10 real estate deals of 2021. 1. The Cosmopolitan of…
Land-based
Las Vegas’ top real estate deals of 2021
The Nevada Independent

As gaming revenues soar in Nevada and nationwide, one analyst is cautious for 2022

Nevada's casino industry is on track for 2021 to produce its fourth-ever $12 billion revenue year. Nationwide, gaming revenues have already surpassed 2019's record total. One gaming analyst, however, believes as the year draws to a close, it might be wise to take a deep breath and evaluate where the casino sector is headed in 2022. Deutsche Bank…
Finance
As gaming revenues soar in Nevada and nationwide, one analyst is cautious for 2022
News4Jax

Hard Rock International buying The Mirage operation in Vegas

LAS VEGAS - Hard Rock International said Monday it wants to see how a guitar-shaped hotel will play at the heart of the Las Vegas Strip. In what MGM Resorts International CEO and President Bill Hornbuckle called "a significant milestone for MGM Resorts and for Las Vegas," the companies announced MGM Resorts will sell operations of The Mirage to…
Travel
Hard Rock International buying The Mirage operation in Vegas
Market Watch

MGM Resorts to Sell Mirage Hotel & Casino Ops to Hard Rock Intl for $1.08B

MGM Resorts International said it will sell the operations of The Mirage Hotel & Casino to Hard Rock International for $1.08 billion. Under terms of the deal, MGM Resorts will retain The Mirage name and brand and license it to Hard Rock, royalty free, for up to three years. Hard Rock said it plans to build an iconic guitar-shaped hotel. Hard Rock…
Travel
MGM Resorts to Sell Mirage Hotel & Casino Ops to Hard Rock Intl for $1.08B
Golden Casino News

MGM Resorts continues to expand, targets new facility in Las Vegas

MGM Resorts International Considering a New Facility on the Las Vegas Strip. MGM Resorts is growing increasingly enthusiastic about the southern end of the Las Vegas Strip's future. This week, one of its top officials indicated that additional improvements in the area might be imminent. MGM Resorts, which operates most of the Strip's casinos,…
Travel
MGM Resorts continues to expand, targets new facility in Las Vegas
Review Journal

Las Vegas casino investors wagering on comeback

When driving the Strip, walking its sidewalks or navigating its casinos, there is no mistaking it: America's rowdy gambling mecca is crammed with tourists again. And even though visitor volume remains below pre-pandemic levels, and the coronavirus outbreak has by no means been stamped out, casino investors are betting big that Las Vegas is back on…
Land-based
Las Vegas casino investors wagering on comeback
The Nevada Independent

How VICI Properties is quietly becoming landlord to the biggest casinos in Vegas

In the waning days of Caesars Entertainment's two-year bankruptcy reorganization, creditors struggled with a name for a new spin-off company taking ownership of 19 casinos that would control the land and lease the properties back to the operator. Consultants suggested Senatus Populusque Romanus, or SPQR, the term used for the government of ancient…
Travel
How VICI Properties is quietly becoming landlord to the biggest casinos in Vegas
The Nevada Independent

A buyer’s market: Vegas Strip casinos a hot commodity

High-profile Las Vegas Strip resorts aren't put up for sale every day. Last week, however, Caesars Entertainment and MGM Resorts International, the Strip's two largest operators with a combined 17 properties, each said they wanted to part ways with a hotel-casino. In a year that has seen more than $30 billion in announced mergers and acquisition…
Covid
A buyer’s market: Vegas Strip casinos a hot commodity
Poker News Daily

MGM Resorts International to Sell The Mirage in Las Vegas

The landscape of the Las Vegas Strip will continue to change, as MGM Resorts International has said it is looking to sell The Mirage. During the company's quarterly conference call on Wednesday, CEO Bill Hornbuckle said that the company feels it has enough exposure on The Strip. "As such, we are currently in the early stages of a process to sell…
Travel
The Wall Street Journal

MGM Plans to Sell Mirage Operations in Las Vegas

MGM Resorts International MGM 1.71% said it would sell its operations of The Mirage to another operator, part of a rash of deals that are changing the hands of ownership on the Las Vegas Strip. MGM Resorts, like other casino and hotel operators, has been shedding some of its assets including its real-estate holdings to focus on new business areas…
Travel
MGM Plans to Sell Mirage Operations in Las Vegas
Review Journal

Las Vegas Strip landlord Vici sees revenues rise in Q3

The soon-to-be largest landlord on the Strip believes there's never been a better time to be investing in Las Vegas. That's understandable excitement for a company that has inked real estate deals for Strip properties totaling more than $21 billion this year alone. "We were very excited from the day we started the company. We're even more excited…
Land-based
Las Vegas Strip landlord Vici sees revenues rise in Q3
Review Journal

Cosmopolitan sale the latest billion-dollar deal on Las Vegas Strip

The multibillion-dollar sale of The Cosmopolitan of Las Vegas has not only put the flashy, once-financially troubled resort in new hands. It also marks the latest in a string of hotel deals on the Strip between two powerhouse companies and another investment on Las Vegas Boulevard from the CEOs of fast-food chain Panda Express. New York financial…
Land-based
Cosmopolitan sale the latest billion-dollar deal on Las Vegas Strip
Forbes

Blackstone To Sell The Cosmopolitan Of Las Vegas For $5.65 Billion

MGM Resorts International will acquire the operations of The Cosmopolitan, the luxury casino and hotel on the Las Vegas Strip, for $1.625 billion from private equity giant Blackstone. Both MGM and Blackstone announced the deal on Monday. The private equity firm's Blackstone Real Estate Partners VII LP is selling the hotel and casino's real estate…
Covid
Blackstone To Sell The Cosmopolitan Of Las Vegas For $5.65 Billion
The Real Deal

Blackstone to Net $4B Profit in Sale of Vegas Casino

The Blackstone Group can head to the slots after netting a record profit for the sale of a single asset: The Cosmopolitan of Las Vegas. Blackstone has agreed to sell the Las Vegas Strip hotel and casino for more than $5.6 billion, more than three times the $1.8 billion it paid for the property seven years ago. The company stands to make almost $4.1…
Travel
Blackstone to Net $4B Profit in Sale of Vegas Casino
Review Journal

MGM Resorts sells casinos for billions, rents for huge sums

In a burst of multibillion-dollar deals, Las Vegas has seen investors pay mountains of money the past few years to own high-profile casino-resorts. Those sales have also shown what casino operators - well, one in particular - are willing to pay to rent these properties. MGM Resorts International has reached deals since fall 2019 to lease Bellagio,…
Travel
MGM Resorts sells casinos for billions, rents for huge sums
The Real Deal

Blackstone Shops Cosmopolitan Las Vegas for $5B

Blackstone is once again seeking a high roller to purchase the Cosmopolitan of Las Vegas, this time soliciting offers in excess of $5 billion for the 11 year-old resort casino. One potential suitor exploring an offer is Apollo Global Management, according to Bloomberg. MGM Resorts International is also reportedly looking to swoop in as a potential…
Travel
Blackstone Shops Cosmopolitan Las Vegas for $5B
AP News

Casino giant MGM Resorts selling land to New York-based firm

LAS VEGAS (AP) - A New York-based real estate investment firm will emerge as the largest landholder on the Las Vegas Strip under a $17.2 billion property deal between landholding affiliates of casino giants Caesars Entertainment and MGM Resorts International. Combined, VICI Properties Inc. will end up with properties in 15 states. MGM Resorts…
Travel
Casino giant MGM Resorts selling land to New York-based firm
Vital Vegas

Vital Vegas Podcast, Ep. 129: Just the Tips

You could enjoy Las Vegas without our podcast, but why would you want to? This episode has so much Vegas in it, you'll need to service your temperature/pressure relief valve, whatever that might actually be. We'll bring you up to speed on the mask mandate and how it has, or mostly hasn't, affected visitors. Then we dive into a surprisingly…
Strategy Guide
Vital Vegas Podcast, Ep. 129: Just the Tips
Market Watch

Casino giant MGM Resorts sells $17.2 billion worth of land to a New York-based firm

LAS VEGAS (AP) - A New York-based real estate investment firm will emerge as the largest landholder on the Las Vegas Strip under a $17.2 billion property deal between landholding affiliates of casino giants Caesars Entertainment CZR, -2.92% and MGM Resorts International MGM, -0.74% . Combined, VICI Properties Inc. VICI, -0.63% will end up with…
Travel
Casino giant MGM Resorts sells $17.2 billion worth of land to a New York-based firm
The Art Newspaper

Place your bids: Sotheby’s to auction 11 Picassos live from Bellagio in Las Vegas

Place your bids: Sotheby's will sell 11 works by Picasso from the MGM Resorts Fine Arts collection at the resort and casino Bellagio in Las Vegas this October. The entire collection, which carries a guarantee, has an estimate of $70.5m-$104.2m. The auction marks the first time Sotheby's has held a marquee, live-streamed evening sale in North…
Land-based
Place your bids: Sotheby’s to auction 11 Picassos live from Bellagio in Las Vegas
The Motley Fool

The Las Vegas Strip Is Changing Before Our Eyes

Las Vegas has gone through a number of transformations over the last half-century, going from mob town to mega-resorts built by junk bonds to an REIT haven. A largely unseen trend in the city over the last half decade has been the sale of a vast majority of the Las Vegas Strip's real estate to investment firms called real estate investment trusts…
Land-based
The Las Vegas Strip Is Changing Before Our Eyes
The Wall Street Journal

Casino Owner Vici Properties to Buy MGM Growth Properties

Real-estate investment trust Vici Properties Inc. agreed to buy MGM Growth Properties LLC in a deal that values the casino real-estate owner at $17.2 billion, including about $5.7 billion in debt. Under the agreement, casino operator MGM Resorts International will receive about $4.4 billion in cash. MGM Resorts spun off MGM Growth Properties in…
Travel
Casino Owner Vici Properties to Buy MGM Growth Properties
The Nevada Independent

Indy Gaming: Las Vegas left behind as Sands charts future in Macau, Singapore and online

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. Las Vegas Sands is on its way to becoming just Sands. The…
NFL
Indy Gaming: Las Vegas left behind as Sands charts future in Macau, Singapore and online
The Nevada Independent

MGM Resorts still the Strip’s largest casino operator, just not its biggest landowner

Nearly a decade ago, MGM Resorts International owned much of the Las Vegas Strip. The company controlled more than 800 acres along the resort corridor, much of which housed 10 Strip resorts, the 67-acre CityCenter complex, a 33-acre concert venue and 23 acres that became The Park dining and retail space and T-Mobile Arena. "It's a good time to be…
Travel
MGM Resorts still the Strip’s largest casino operator, just not its biggest landowner
The Motley Fool

MGM Resorts Is Betting Big on Las Vegas

MGM Resorts (NYSE:MGM) has quietly made a very big bet on the future of the Las Vegas Strip, and it could determine the stock's performance long term. Not only did MGM recently agree to acquire the half of CityCenter that it didn't own for $2.125 billion, but it also agreed to sell CityCenter's real estate for $3.89 billion to funds managed…
Travel
MGM Resorts Is Betting Big on Las Vegas
Card Player

MGM Resorts Sells Two More Las Vegas Strip Properties To Blackstone

Before the COVID-19 pandemic put a halt to most economic activity, especially in Las Vegas, MGM Resorts was unloading its Las Vegas real estate to raise cash on hand. It recently restarted its "asset-light" business strategy as it entered into an agreement with Blackstone to purchase two more pieces of Las Vegas Strip real estate. The deal with…
Travel
Review Journal

Chicago casino resort about to enter ‘request for proposals’ stage

It shouldn't be long before Chicago unveils its request for proposals to build a casino resort in the nation's third-largest metropolitan area. It was in early March that Chicago Mayor Lori Lightfoot announced that an RFP is coming for a single resort that is expected to include hotel, dining, entertainment and convention amenities. Several…
Travel
Chicago casino resort about to enter ‘request for proposals’ stage
Casino News Daily

Casino Giant MGM Offloads Aria, Vdara to Blackstone in $3.9bn Deal

Las Vegas casino operator MGM Resorts International has agreed to sell Aria Resort & Casino and Vdara Hotel & Spa to New York-based private equity firm The Blackstone Group in a $3.89 billion deal. Blackstone will lease the resorts back to MGM for an initial annual rent of $215 million, it also became known. Both transactions are expected to close…
Travel
Casino Giant MGM Offloads Aria, Vdara to Blackstone in $3.9bn Deal
Barron's

Las Vegas Has Been on a Roll. Here’s How to Play the Next Leg of Its Rally.

Investing in Las Vegas, like the city itself, continues to evolve. Starting last year, investors bid up Las Vegas-related stock prices and valuations, in part in anticipation of a strong economic recovery helped by pent-up demand, and in part because they look favorably on the recent rush of casino operators into the promising early days of digital…
Strategy Guide
Las Vegas Has Been on a Roll. Here’s How to Play the Next Leg of Its Rally.
Vegas Inc

Las Vegas resort operator interested in proposed Chicago casino

The Chicago skyline is seen from the Museum Campus during a cold weather day in Chicago, Sunday, Feb. 7, 2021. Updated Wednesday, March 10, 2021 | 11:38 a.m. At least one Las Vegas gaming company has expressed interest in operating a proposed casino in Chicago. Wynn Resorts was among several Las Vegas-based companies that responded to a request for…
Travel
Las Vegas resort operator interested in proposed Chicago casino