The private equity firm is negotiating to be the buyer in the sale leaseback of the two casinos. : (Bloomberg)—Blackstone Group Inc. is in advanced talks to buy and lease back the iconic Bellagio and MGM Grand Las Vegas casinos from MGM Resorts International, according to people with knowledge of the matter. They have yet to agree on a transaction and one may not be reached, said the people, who requested anonymity because the talks are private. The terms of the potential deal couldn’t be learned.