A question that has been popping up on the Las Vegas forums a lot lately is asking about the recent news of the MGM being sold. So did the MGM sell the MGM, Mandalay Bay and the Bellagio? If so, what does that mean for the hotels?
The short answer is “Yes” MGM sold the MGM, the Mandalay Bay, and the Bellagio Resorts. But they did not sell them MGM, Mandalay Bay, and the Bellagio. They sold the physical property and will lease them back. they did not “sell” the resorts themselves.
It’s like almost any other retail or hotel property. The company that has the name on the sign out front is oftentimes not the same company that owns the building. The hotel is only the tenant.
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