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.
