MGM seeks investors

MGM Resorts is looking for an investor for a joint venture that would own two Las Vegas properties.

US.- New reports have emerged indicating that MGM Resorts International and MGM Growth Properties are looking for investors for a joint venture that would own two Las Vegas Properties. Bloomberg has revealed that the properties would be prominent ones in Las Vegas.

The report indicates that the companies have solicited interest in the Grand Hotel & Casino and the Mandalay Bay Resort & Casino from investors linked to gaming properties. When inquired about the reports, representatives from both MGM Resorts and MGM Growth Properties don’t immediately respond.

Back in 2016, MGM Resorts created the real estate investment trust MGM Growth and sold a minority interest to the public.

MGM Grand is likely to be sold at the end of the year, according to the company, and the transaction would be part of its goal to become an asset-light casino operator. Moreover, MGM agreed to sell the Bellagio to Blackstone last month in a US$4.25 billion deal.