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MGM RESORTS INTERNATIONAL ANNOUNCES AGREEMENT TO SELL OPERATIONS OF MGM NORTHFIELD PARK FOR $546 MILLION
MGM RESORTS INTERNATIONAL ANNOUNCES AGREEMENT TO SELL OPERATIONS OF MGM NORTHFIELD PARK FOR $546 ...
About this update from Clairvest Group Inc.
[{"type":"text","content":"MGM RESORTS INTERNATIONAL ANNOUNCES AGREEMENT TO SELL OPERATIONS OF MGM NORTHFIELD PARK FOR $546 MILLION\n\n\nMGM RESORTS INTERNATIONAL ANNOUNCES AGREEMENT TO SELL OPERATIONS OF MGM NORTHFIELD PARK FOR $546 MILLION\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nPR Newswire\n\n\nPurchase price represents an approximate 6.6x multiple on Adjusted EBITDA for the trailing twelve months ended June 30, 2025 \nLAS VEGAS, Oct. 16, 2025 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) (\"MGM Resorts\" or the \"Company\") announced today that it has reached an agreement to sell the operations of MGM Northfield Park to private equity funds managed by Clairvest Group Inc. (TSX: CVG) (\"Clairvest\") for $546 million in cash, subject to customary purchase price adjustments.\n\"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,\" said Bill Hornbuckle, CEO & President, MGM Resorts International. \"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.\"\nFor the twelve months ended June 30, 2025, MGM Northfield Park reported Adjusted EBITDAR of approximately $137 million1.  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...