Mgm Changes Its Plans For Casino In Las Vegas
Mgm resorts international agreed to conclude a transaction for moving two casinos in las vegas on mgm growth properties.
Gambling establishments will be moved soon after mgm resorts international and mgm growth properties (mgp) have decided to invest in the development of parg mgm and nomad las vegas.
Mgp will pay mgm resorts a remuneration of $ 637.5 million as an investment concept to move both platforms. Indition, it is expected that the annual rent will grow by $ 50 million, in accordance with the terms of the transaction.
Jim murren, chairman of the board of directors and general director of mgm resorts, notic: «creating park mgm and nomad las vegas in combination with t-mobile arena, park theater and the whole mid-strip area will further strengthn our position as a global resort and entertainment leader. Mgm resorts will continue to intentionally reduce our property in the future by increasing transactions. Mgp is an attractive partner to achieve this goal. We are still committed to our strated strategic goals, including a decrease in the share of participation in mgp».
Recall: august 1 mgm resorts international and the national basketball association concluded a historical deal, according to the conditions of which the gambling operator of the will first be a sponsor of a professional sports league.