MGM Resorts to sell Mandarin Oriental Las Vegas for $214M

Hotel and condo tower Mandarin Oriental, Friday, July 14, 2017, in CityCenter on the Las Vegas Strip. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye

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By Todd Prince Las Vegas Review-Journal

April 26, 2018 - 1:30 pm

CityCenter Holdings, a subsidiary of MGM Resorts International, agreed to sell the Mandarin Oriental Las Vegas and adjacent retail properties for approximately $214 million.

CityCenter did not disclose the buyer of the 392-room hotel located on the Strip. The deal is expected to close in the summer. The 47-story Mandarin Oriental was opened in Dec. 2009.

CityCenter still owns the Aria, Vdara as well as the Veer Towers that sit between the Bellagio and Monte Carlo.

MGM Resorts and Infinity World Development Corp. each own a 50 percent stake in CityCenter. The property sale is the second by MGM this month.

The Las Vegas-based casino operator announced April 16 it would sell its 50 percent stake in the Grand Victoria Casino in Illinois.

Contact Todd Prince at 702-383-0386 or tprince@reviewjournal.com. Follow @toddprincetv on Twitter.

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