MGM Resorts International MGM Resorts International sells Aria & Vdara to Blackstone for $3.9 billion. MGM also buys out their remaining stake in CityCenter from World Development Corporation for $2.1 Billion which also includes Aria and Vdara. This gives Blackstone majority control of MGM casinos on the Las Vegas strip. Blackstone now owns the Bellagio, the Mandalay Bay, The Delano, the Cosmopolitan and now the Aria & Vdara. MGM made the decision to sell their Las Vegas casinos after the October 1st, 2017 massacre at Mandalay Bay. Blackstone also owns a large portion of Hilton Hotels which is the hotel group at Resorts World. Blackstone also owns Madame Toussands.
Other casinos that have sold in Las Vegas recently: The Venetian & Palazzao, Rio, Caesars Palace. Steve Wynn divested in 2018. The Palms and 4 other Stations Casinos remain closed. #entertainment #realestate #lasvegas #development #travel #investments