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MGM Resorts to sell MGM Grand and Mandalay Bay on the Las Vegas Strip for $2.5 billion

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Posted at 6:31 AM, Jan 14, 2020
and last updated 2020-01-14 09:38:54-05

LAS VEGAS (AP) -- MGM Resorts to sell MGM Grand and Mandalay Bay on the Las Vegas Strip for $2.5 billion.

The company announced the Joint Venture, which includes Blackstone Real Estate Income Trust, on Tuesday morning.

The both properties will be leased to MGM Resorts for an initial rent of $292 million.