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During the ing’s demand for the latest Borgata for $900 million, and sold the property so you’re able to MGP to possess $one.2 billion and you may leased it straight back getting $100 million a-year. The fresh giving elevated $1.05 mil, and leftover MGM Resorts that have 76 percent possession of your own REIT. MGM retained a great 51 % interest in the firm, having Pansy Ho carrying a 29 % stake, and 20% marketed so you can societal buyers to possess $1.5 billion. The brand new purchases is done on the to have $600 mil for the dollars including good $175 million promissory mention. The fresh new Boardwalk are closed in ent, and you will CityCenter framework first started the next June.

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The two Laughlin casinos (this new Texas Belle and you will Edgewater) had been sold to have $2 hundred million, the latest Primm Valley Resort were ended up selling getting $400 mil, together with Vegas Getting Lodge and you will Casino is finalized

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