Blackstone aims to sell Bellagio hotel in Vegas

Bellagio, Las Vegas

United States investment giant Blackstone, the majority Crown owner, is in talks now to sell its interest in the Bellagio hotel in Las Vegas.

According to reports, the group is now looking to cash-out on some of its real-estate, with the MGM Resorts’ Bellagio first on its list.

The company had initially bought the property for some $42.5 billion in 2019, pre-COVID, and has recently been offloading industrial properties for billions.

It remains to see how much Blackstone could get for the Bellagio property and which companies will be submitting bids.

Blackstone is currently the majority owner of Australian-based Crown Resorts, having acquired the company last year for some $6 billion.