'As a result of these actions, we are well positioned and remain focused on pursuing growth opportunities in our core business, with significant financial flexibility to continue to deploy capital to maximize shareholder value.' 'In 2016 we started on our journey to become asset light and this announcement, together with our recently announced Springfield and Cit圜enter transactions, reflects the culmination of those efforts and a major step forward in simplifying our corporate structure,' said Bill Hornbuckle, chief executive officer and president of MGM Resorts, in a press release. As part of the deal, MGM Resorts International will receive about $4.4 billion. On Wednesday, MGM Resorts International sold MGM Growth Properties to VICI in a deal worth more than $17 billion.
LAS VEGAS (KTNV) - A major deal has been reached involving multiple properties on the Las Vegas Strip.įinancial analyst Steve Budin says about five years ago MGM split its company into two, MGM Resorts International, which operates about a half dozen resort-casinos on the Strip, and MGM Growth Properties, which owns the physical buildings and land that houses those resorts.
