MGM Resorts International is selling the Bellagio property and leasing it back. This move gives the casino operator a cash infusion of more than $4 billion.MGM announced Tuesday that it reached a deal with New York financial giant The Blackstone Group.
MGM Resorts International signed a sports betting sponsorship agreement with the NBA in July It was the first professional sports league to have official ties with a legal sports betting house. The deal came just two months after the U.S. Supreme Court overturned a law prohibiting sports betting in most states. In October, MGM became the first gaming company to sign a sports betting partnership with the NHL. In November, MGM became the first gaming company to sign a sports betting partnership with the MLB. Financial terms of Tuesday’s deal and earlier partnerships have not been announced.
