Latest News for: Mgm trust

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MGM taking over operations of Cosmopolitan

Las Vegas Sun 27 Sep 2021
The deal calls for MGM to enter into a 30-year lease agreement, with three 10-year renewal options, according to a news release. MGM will partner with Stonepeak Partners, Cherng Family Trust and Blackstone Real Estate Income Trust Inc., which will acquire the Cosmopolitan's real estate assets for $5.65 billion, officials said.
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MGM taking over operations of Cosmopolitan in $1.6B deal

Las Vegas Sun 27 Sep 2021
The deal calls for MGM to enter into a 30-year lease agreement, with three 10-year renewal options, according to a news release. MGM will partner with Stonepeak Partners, Cherng Family Trust and Blackstone Real Estate Income Trust Inc., which will acquire the Cosmopolitan's real estate assets, the release said.
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Blackstone selling Vegas hotel Cosmopolitan in $5.65B deal

Times Union 27 Sep 2021
LAS VEGAS (AP) — The owner of the Cosmopolitan of Las Vegas, the New York private equity firm Blackstone, is selling the 3,000-room Las Vegas Strip hotel in a $5.65 billion deal with a partnership that plans to contract with casino giant MGM Resorts International to operate the property.
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Cosmopolitan sold in $5.65B deal

Las Vegas Review-Journal 27 Sep 2021
Under the deal, MGM will enter into long-term lease with a partnership between the Cherng Family Trust, Stonepeak Partners and Blackstone Real Estate Income Trust Inc., which will acquire the underlying real estate of the Cosmopolitan ... We look forward to welcoming The Cosmopolitan’s guests and employees to the MGM Resorts family.”.
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Blackstone flips Cosmopolitan in Las Vegas for triple the price it paid

Market Watch 27 Sep 2021
MGM will also sign a long-term net lease with a partnership between Cherng Family Trust, Stonepeak Partners and Blackstone Real Estate Income Trust ...
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Cosmo sold in $5.65B deal; MGM to take over resort operations

Las Vegas Review-Journal 27 Sep 2021
Under the deal, MGM will enter into long-term lease with a partnership between the Cherng Family Trust, Stonepeak Partners and Blackstone Real Estate Income Trust Inc., which will acquire the underlying real estate of the Cosmopolitan ... We look forward to welcoming The Cosmopolitan’s guests and employees to the MGM Resorts family.”.
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Cosmopolitan in Vegas sold for $5.65B

Union Leader 27 Sep 2021
MGM Resorts International will take over operations of the Cosmopolitan, while a partnership between the Cherng Family Trust, Stonepeak Partners and Blackstone Real Estate Income Trust are buying the real estate, according to the statement ... MGM has sold casino properties while continuing to manage them.
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Blackstone strikes gold with $5.7bn Cosmopolitan casino sale in Las Vegas

Business Day 27 Sep 2021
MGM Resorts International will take over operations of the Cosmopolitan, while a partnership between the Cherng Family Trust, Stonepeak Partners and Blackstone Real Estate Income Trust are buying the real estate, according to the statement ... MGM has sold casino properties while continuing to manage them.
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Blackstone selling Vegas casino, Firm’s most profitable property deal

Live Mint 27 Sep 2021
The deal separates ownership of the property from the hotel and casino operations, which are being sold to MGM Resorts International for about $1.6 billion. A partnership that includes a Blackstone real-estate investment trust is acquiring the property for about $4 billion, according to the Blackstone investor letter.
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Should you buy Blackstone shares as it agrees to sell Cosmopolitan for $5.65 billion?

Invezz 27 Sep 2021
On Monday, Blackstone Inc ... MGM Resorts International (NYSE.MGM) is buying the hotel and casino business for $1.6 billion, while Blackstone real estate investment trust will acquire the real estate property for $4 billion ... The company bought the property for $1.8 billion seven years ago and spent an additional $500000 in upgrades and renovations ... ....
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Tech stocks pull down 2 major indexes; NC gains 1,500 Fidelity finance jobs

The Post and Courier 27 Sep 2021
LAS VEGAS — The owner of the Cosmopolitan of Las Vegas, the New York-based private equity firm Blackstone, is selling the 3,000-room Las Vegas Strip hotel in a $5.65 billion deal with a partnership that plans to contract with casino giant MGM Resorts International to operate the property.
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Commission OKs MGM bid to buy out CityCenter from partner

Las Vegas Review-Journal 23 Sep 2021
It’s all part of MGM’s “asset-light” strategy that was initiated five years ago to maximize revenue through leasing and managing resorts with real estate investment trusts. When the transaction is completed, all properties operated by MGM in Las Vegas will ...
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MGM Healthcare Chennai Successfully Performs India’s First CT Guided Minimally Invasive Neuro Surgical Procedure on ...

The Eastern Herald 16 Sep 2021
With the technological advancements and the expertise available at MGM Healthcare, we decided to perform a minimally invasive intervention over an open surgery ... Over the past year, the team of clinical experts at MGM Healthcare have performed many innovative and complex surgeries in the pursuit of establishing trust and clinical excellence.
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Control Board recommends approval of MGM’s buyout of CityCenter

Las Vegas Review-Journal 09 Sep 2021
MGM Resorts International on Wednesday took its first step toward closing on a $2.1 billion buyout of Dubai World’s 50 percent stake in CityCenter ... It’s all part of MGM’s asset-light strategy that the company initiated five years ago to maximize revenue through leasing and managing resorts with real estate investment trusts.
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Maryland casinos pull back from records

Wtop 08 Sep 2021
MGM National Harbor generated $67.4 million in August, up 12.9% from a year ago ... The state of Maryland collects $71.3 million of the August total for various state programs, the largest contribution goes to the state’s Education Trust Fund. MGM National Harbor ...

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