Mgm Resorts Agrees To Sell Las Vegas Citycenter For $3.9B

by wsj.com posted 4weeks ago 1 views
The casino operator continues to raise cash from unloading the real estate tied to its Strip properties. : MGM Resorts International agreed to take full ownership of the huge CityCenter property on the Las Vegas Strip in a complex arrangement to sell real estate but still gain all the revenues from operating the massive Strip casino, the company said Thursday. CityCenter is a glassy complex with hotel-condo towers and luxury shopping, originally built for $8.7 billion, but it nearly plunged into bankruptcy after construction costs skyrocketed and it opened amid an economic recession in 2009.

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