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Sign in Sign up for a FREE subscriptionBlackstone acquires more Las Vegas properties for $3.89b
MGM Resorts International has entered into a definitive agreement to purchase Infinity World Development Corp.’s 50 percent interest in CityCenter Holdings for $2.125 billion. The purchase price represents an implied valuation of $5.8 billion based on net debt of $1.5 billion, after giving effect to the recently closed sale of a two-acre parcel. The agreement will make MGM Resorts the 100 percent owner of CityCenter on the Las Vegas Strip, which comprises Aria Resort & Casino and Vdara Hotel and Spa.
"CityCenter has consistently elevated the Las Vegas experience over the years, contributing to this vibrant city's undeniable position as a top tourism and business destination," said B
