MGM Resorts completes US$546mln sale of MGM Northfield Park

MGM Resorts International has finalized the sale of MGM Northfield Park operations to private equity funds managed by Clairvest Group Inc. for US$546 million in cash, resulting in an estimated US$420 million in net proceeds after taxes. This divestment of a “non-strategic regional asset” is intended to support MGM’s financial priorities, including maintaining a strong balance sheet, investing in growth, and returning capital to shareholders. The transaction also led to an amendment in MGM’s master lease agreement with VICI Properties Inc., reducing annual rent by US$53 million.

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