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MGM Resorts International announces the sale of its iconic Bellagio property in Las Vegas to a joint venture led by Blackstone Group Inc. MGM will retain a 5% stake and continue operating the hotel and casino. The company also sells Circus Circus to Phil Ruffin. These real-estate deals provide MGM with cash flexibility to explore new business areas such as sports, sports betting, entertainment, and potential expansion in Japan's recently legalized casino market.
Monday, 14 October, 2019