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MGM Resorts to acquire CityCenter Holdings
MGM Resorts International has pulled off a double transaction which sees it become the full owner of CityCenter Holdings. CityCenter on the Las Vegas Strip includes the Aria Resort & Casino and Vdara Hotel and Spa.
MGM will purchase the 50% share it doesn’t already own in CityCenter Holdings. Following the completion of this deal, which is worth $2.1 billion, it will offload real estate assets Aria Resort & Casino and Vdara Hotel and Spa to Blackstone for $3.89 billion in cash.
Both transactions are expected to close in the third quarter of 2021.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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