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MGM Resorts International announces closing of Circus Circus sale27 December 2019(PRESS RELEASE) -- MGM Resorts International today announced that it has closed on its sale of Circus Circus Hotel Casino - Las Vegas and the 37 adjacent acres for $825 million, subject to final purchase price adjustments, to an affiliate of Treasure Island owner Phil Ruffin. The sale is part of the Company's commitment to its asset-light strategy designed to focus on MGM Resorts' core business and maximize value for its shareholders. The purchase price is comprised of $662.5 million in cash and a $162.5 million note due 2024. MGM Resorts plans to utilize the proceeds from this transaction to further its capital allocation strategy and enhance its strategic and operational flexibility.
MGM Resorts International announces closing of Circus Circus sale
is republished from Online.CasinoCity.com.
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