Thursday, July 1, 2021 | 9:26 a.m.
MGM Resorts International announced today it is selling two of its Strip properties, although it will continue to operate them.
MGM has entered into an agreement to sell the Aria and Vdara to the Blackstone Group, a New York-based investment company, for $3.9 billion.
MGM also announced it has agreed to buy out World Development Corporation’s 50% interest in the CityCenter development, which includes the Aria and Vdara.
MGM said it will pay just over $2.1 billion for World Development’s interest.
The deal with Blackstone will allow the investment company to acquire the Aria and Vdara real estate, though MGM will continue to operate the properties as part of a lease-back arrangement.
