When the Bellagio was developed more than 20 years ago, it was the world’s most expensive hotel ever built.
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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.