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Blackstone Selling Stake

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Blackstone Selling Stake

B
Benzinga

2 Views • Dec 01, 2022

Description

Blackstone Inc. ($BX@US) is selling its 49.9 percent stake in MGM Grand and Mandalay Bay in Las Vegas to Vici Properties Inc. ($VICI@US), which owns the other 50.1 percent stake. Blackstone would receive $1.27 billion in cash from the sale, bringing in a profit of $700 million for the investment management company. Earlier this year, Blackstone sold the Cosmopolitan casino for $5.65 billion. The deal values the properties at $5.5 billion.

Keywords & Tags

#inflation #investment #business #Blackstone #Las Vegas #commercial real estate #Blackstone Selling Stake in MGM Grand #Mandalay Bay #Vici Properties #MGM Grand #investment management company #Cosmopolitan casino #casino #properties #casino properties #real estate business

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