Under UK law, MGM was precluded from making another offer for six months. MGM made an $11 billion buyout offer for the company in January, but the bid was rejected for “undervaluing the company.” “We expect to continue executing on our asset-light strategy and utilizing the proceeds from our real estate transactions to enhance our financial flexibility and secure new growth opportunities,” MGM Resorts CEO Bill Hornbuckle said on July 1.Īnalysts believe MGM Resorts, which owns a 50 percent stake in BetMGM, the company’s sports betting and online gaming operation, wants to acquire the other half through a purchase of United Kingdom betting giant Entain PLC. Much of that site is slated to be used for parking for nearby Allegiant Stadium.
1, 2017, mass shooting – is the last piece of the company’s Strip real estate puzzle. Outdoor festival grounds across from Luxor and Mandalay Bay – the location of the Oct. When a pair of recently announced transactions involving Cit圜enter and totaling more than $6 billion are finalized later this year, MGM Resorts’ land ownership on the Strip will cover just 15 acres.
