Customers won’t notice any changes at Mandalay Bay, so don’t freak out.<\/figcaption><\/figure>\nThe bottom line is this deal is similar to the recent sale of Bellagio in that MGM Resorts will continue to operate the resorts.<\/p>\n
The sale of MGM Grand and Mandalay Bay are part of a larger “asset light” strategy on the part of MGM Resorts. It also seems to be part of a larger “boring us to death” strategy involving REITs, lots of initialisms and companies paying themselves rent.<\/p>\n
MGM Resorts’ initial annual rent will be $292 million. Which shouldn’t be a big deal until the recession hits, then everything goes to hell in a handbasket.<\/p>\nMGM Grand is the green one.<\/figcaption><\/figure>\nThe deal is expected to close in the first quarter of 2020.<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"
MGM Grand and Mandalay Bay have been sold for $4.6 billion. Which is only news to you if you don’t read headlines, but whatever. According to a news release, MGM Growth Properties (MGP) and Blackstone Real Estate Income Trust (BREIT) will co-own the resorts. MGP will own 50.1% of the joint venture, and Blackstone will […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[23,2],"tags":[],"class_list":["post-22879","post","type-post","status-publish","format-standard","hentry","category-vegas","category-lasvegashotels"],"acf":[],"yoast_head":"\n
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Which is only news to you if you don't read headlines, but whatever.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/vitalvegas\/mgm-grand-and-mandalay-bay-sold-for-4-6-billion\/\" \/>\n<meta property=\"og:site_name\" content=\"Vital Vegas\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/VitalLasVegas\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-14T16:11:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-14T16:18:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/vitalvegas\/wp-content\/uploads\/2013\/07\/mgm_grand.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Roeben\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@vitalvegas\" \/>\n<meta name=\"twitter:site\" content=\"@vitalvegas\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Scott Roeben\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"MGM Grand and Mandalay Bay Sold for $4.6 Billion","description":"MGM Grand and Mandalay Bay have been sold for $4.6 billion. 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