MGM Resorts International has completed the sale of the operations of MGM Northfield Park to private equity funds managed by Clairvest Group Inc. for $546 million in cash, the company said April 21st.
The transaction marks the divestment of a regional asset as the company continues to refine its portfolio. Following the closing, MGM Resorts amended its master lease agreement with VICI Properties Inc., resulting in a reduction of approximately $53 million in annual rent.
MGM Resorts said it expects net cash proceeds of around $420 million after taxes and transaction-related costs. The company indicated that proceeds will be used in line with its capital allocation priorities, including balance sheet management, investment in growth opportunities, and potential returns to shareholders.
For the year ended December 31st, 2025, MGM Northfield Park generated approximately $142 million in Adjusted EBITDAR, according to the company.
In a statement, MGM Resorts CEO Bill Hornbuckle praised the property’s ‘talented team,’ while CFO Jonathan Halkyard noted the sale allowed the company to monetize a ‘non-strategic regional asset’ at a high valuation compared to the rest of their portfolio.
The sale comes as MGM Resorts continues to focus on its core operations and long-term development strategy, including investments in key markets and international expansion initiatives.
