The deal by the New York financial giant appears to be the most expensive sale ever of a Las Vegas resort.
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When the Bellagio was developed more than 20 years ago, it was the world’s most expensive hotel ever built.
MGM Resorts International is selling the Bellagio property and leasing it back, giving the casino operator a cash infusion of more than $4 billion.
Eric Carlton of Colliers International told the Las Vegas Review-Journal that the Suncoast hotel-casino is not for sale, only the 49-acre parcel on which it sits.
New York investors have spent billions on Las Vegas real estate in recent years, including a recently announced a half-billion-dollar deal to purchase the Rio from Caesars Entertainment Corp.
The Sahara name has returned to Las Vegas Boulevard – along with new hopes for a rejuvenation of the struggling north end of the Strip.
If all went according to plan, visitors — by now — would see an arena with a retractable roof and a five-star hotel developed by ex-NBA player Jackie Robinson on the Las Vegas Strip.
Las Vegas resorts are packed with guests, and the economy is on strong footing. But hotel-casino construction has had a spotty track record since the recession.
John Knott, head of CBRE Group’s global gaming group, expects to die this month or next from metastatic pancreatic cancer.
The 3,400-room hotel-casino project, which is being developed by Malaysia’s Genting Group, did not suffer any damage, a spokesman said.