MGM Resorts International agrees to sell MGM Northfield Park’s operations
The transaction is expected to close in the first half of 2026.
US.- MGM Resorts International has reached an agreement to sell the operations of MGM Northfield Park in Ohio to private equity funds managed by Clairvest Group. It will receive $546m in cash, subject to customary adjustments.
The deal is expected to close in the first half of 2026, subject to the receipt of regulatory approvals. MGM Growth Properties acquired the Hard Rock Rocksino Northfield Park in 2018. A year later, MGM Resorts acquired the operations from MGP for $275m and rebranded the property as MGM Northfield Park.
At the closing of the transaction, MGM Resorts’ master lease agreement with VICI, which currently includes MGM Northfield Park, will be amended to reduce annual rent by $54m. Net cash proceeds after taxes and transaction costs are estimated at $420m.
Bill Hornbuckle, CEO and president of MGM Resorts International, said: “I want to thank our MGM Northfield Park employees who have consistently delivered world-class gaming and entertainment experiences to our guests. This is a great property with great opportunity ahead. At MGM Resorts, our vision is to be the world’s premiere gaming entertainment company. To achieve this vision, we’re focused on growing our digital business, developing our international expansion opportunities, and continuing to invest in our leading integrated resorts domestically.”
Jonathan Halkyard, CFO and treasurer of MGM Resorts International, added: “This is an excellent result for MGM Resorts and demonstrates consistency in driving transaction multiples at meaningful premiums over where MGM Resorts currently trades. The divestiture underscores MGM Resorts’ exceptional financial stewardship, delivering substantial value well beyond the original acquisition price. We appreciate VICI, as the real estate owner of MGM Northfield Park, working constructively with Clairvest to facilitate a new lease agreement.”
MGM Northfield Park reported adjusted EBITDAR of $137m for the twelve months ended June 30.
MGM Resorts International recently announced the appointment of Ayesha Molino as chief operating officer, effective from January 1, 2026. She will replace Corey Sanders, who plans to retire on December 31 after more than 30 years with MGM.
