The company is in talks to sell two Las Vegas top properties, Bellagio and the MGM Grand, to Blackstone Group, Bloomberg News reported, citing people with knowledge of the matter. , a real estate investment trust it created three years ago. The company has cut and reorganized management, and previously sold all but four of its wholly-owned casinos to MGM Growth Properties Inc. MGM has been restructuring under pressure from activist investors. An agreement to sell the resort could be announced as part of a larger transaction involving the company’s real estate portfolio, which also includes the Bellagio and the flagship MGM Grand. MGM Resorts International is in talks to sell its Circus Circus property there to real estate mogul Phil Ruffin, according to a Bloomberg publication based on sources familiar with the deal.
The company is also in talks to sell two Las Vegas top properties, Bellagio and the MGM Grand, to Blackstone Group.