MGM Resorts finalizes sale of MGM Northfield Park operations

(AsiaGameHub) –   The company has sold its operational assets to private equity funds managed by Clairvest Group.

United States – MGM Resorts International has finalized the sale of MGM Northfield Park’s operations in Ohio to private equity funds administered by Clairvest Group for $546 million in cash. It expects net cash proceeds after taxes and transaction costs to be approximately $420 million.

According to the company, for the year ended December 31, 2025, MGM Northfield Park reported an adjusted EBITDAR of $142 million. MGM Resorts’ master lease agreement with VICI Properties—currently including MGM Northfield Park—has been amended to reduce annual rent by $53 million.

Bill Hornbuckle, CEO and President of MGM Resorts International, said: “MGM Northfield Park is a market-leading property supported by a talented team that has consistently delivered outstanding guest experiences. The property has a strong foundation, and we extend our best wishes to the team and new ownership for continued success in the next chapter of the property’s evolution.”

Jonathan Halkyard, CFO of MGM Resorts International, added: “The closing of this transaction underscores the value of MGM’s high-quality operations and provides an opportunity to divest a non-strategic regional asset at a significantly higher multiple than currently ascribed to our premium portfolio. The proceeds will be deployed in line with our priorities of maintaining a strong balance sheet, selectively investing in growth opportunities, and returning capital to shareholders.”