MGM Resorts International announced that it has closed on the sale of the operations of MGM Northfield Park to private equity funds managed by Clairvest Group Inc. for $546 million in cash.
“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,” said Bill Hornbuckle, CEO & President of MGM Resorts International.
“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,” said Jonathan Halkyard, CFO of MGM Resorts International.
For the year ended December 31, 2025, MGM Northfield Park reported Adjusted EBITDAR of approximately $142 million1. At the closing of the transaction, MGM Resorts’ master lease agreement with VICI Properties Inc, which currently includes MGM Northfield Park, was amended to reduce annual rent by $53 million. The Company expects estimated net cash proceeds after taxes and transaction costs to be approximately $420 million.
Jefferies LLC and SMBC Nikko Securities America Inc. served as advisors and Weil, Gotshal & Manges LLP served as legal counsel to MGM Resorts.
