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MGM RESORTS INTERNATIONAL ANNOUNCES COMPLETION OF THE SALE OF THE OPERATIONS OF MGM NORTHFIELD PARK

  • MGM Resorts International closed the sale of MGM Northfield Park operations to private equity funds managed by Clairvest Group Inc. for $546 million in cash.
  • The property reported Adjusted EBITDAR of approximately $142 million for the year ended December 31, 2025.
  • MGM Resorts' master lease agreement with VICI Properties Inc. was amended to reduce annual rent by $53 million.
  • The Company expects estimated net cash proceeds after taxes & transaction costs to be approximately $420 million.
  • Jefferies LLC & SMBC Nikko Securities America, Inc. served as financial advisors, while Weil, Gotshal & Manges LLP served as legal counsel.
  • Proceeds will be deployed to maintain a strong balance sheet, selectively invest in growth opportunities, & return capital to shareholders.