Blackstone Makes a Big Bet With Bellagio: Validation Drives Valuation
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GettyEarlier this week, MGM Resorts International (MGM) said it was selling two of its prized casinos. The combined price tag… was just over $5 billion.
As part of a continued restructuring, MGM opted to maintain control of the Bellagio resort by selling the $4.25 billion property and leasing it back to dominant real estate private equity giant Blackstone Group (BX).
By…