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MGM Agrees to Sell Bellagio to Blackstone for $4.25 Billion

Casino operator also agrees to sell Circus Circus to Ruffin
MGM Grand will remain in company property portfolio for now

People view the water fountains at the Bellagio Resort & Casino in Las Vegas.

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By Christopher Palmeri

October 15, 2019 at 8:10 PM UTC

Updated on

October 15, 2019 at 11:51 PM UTC

This article is for subscribers only.

MGM Resorts International, pressured by investors to unload its remaining company-owned casinos, agreed to sell the Bellagio resort in Las Vegas to Blackstone Group for $4.25 billion and will continue to operate the property under a lease arrangement.

The Las Vegas-based casino company also agreed to sell the Circus Circus property on the Strip, along with 47 adjoining acres, to real estate mogul Phil Ruffin for $825 million, according to a statement Tuesday.