Blackstone Acquires Bellagio Casino And Hotel In Las Vegas From MGM Resorts Intl

The Bellagio, a prominent casino, hotel, and retail establishment located at 3600 S Las Vegas Blvd in Las Vegas, was recently sold in a closed transaction. The property was purchased by Blackstone, a notable investment firm, from MGM Resorts International. The sale price for this iconic property was $4,250,000,000, with Blackstone securing a loan amount of $3,000,000,000 from Morgan Stanley. The transaction includes the transfer of keys to 3,950 rooms, with a price per key of $1,075,949. It is worth noting that MGM Resorts International will retain a 5% equity stake in the Bellagio, while Blackstone will lease the hotel portion of the property.

Summary of transaction details:

• Property Type: Casino, Hotel, Retail
• Transaction Amount: $4,250,000,000
• Address: 3600 S Las Vegas Blvd
• Market: Las Vegas
• Buyer: Blackstone
• Seller: MGM Resorts International
• Lender: Morgan Stanley
• Loan Amount: $3,000,000,000
• Keys: 3,950
• Price Per Key: $1,075,949

The transaction involved key individuals such as Jonathan Gray, Stephen Schwarzman, and Jim Murren. Jonathan Gray represents Blackstone, while Stephen Schwarzman and Jim Murren are associated with the Bellagio. The deal was facilitated by MGM Resorts International as the seller and Morgan Stanley as the lender.