![]() ![]() Once the deal is complete, MGM Resorts International will be selling the Borgata to MGM Growth Properties for a reported $1.175 billion, with the latter then planning to lease the Borgata to MGM Resorts for $100 million annually.īoyd Gaming CEO Kevin Smith told Forbes that while the company have been "pleased with the performance" of the Borgata, "this transaction is an attractive opportunity to immediately unlock significant value for our shareholders." Minus the payment of current debts, Boyd "estimates that it will gain $600 million by way of the transaction." There was big industry news this week with the announcement that MGM Resorts International has acquired the Borgata Hotel Casino & Spa.Īs Forbes reports, the price tag for the acquisition totaled $900 million to be paid to Boyd Gaming Corp. MGM Resorts Acquires Borgata, To Expand East Coast Footprint In this week's installment of Inside Gaming, a big acquisition was announced this week as MGM Resorts International acquires the Borgata, and a six-year long legal battle between the Las Vegas Sands and its ex-Sands China CEO finally ends with a big cash settlement. ![]()
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