Blackstone REIT will lease back the properties after the sale of Circus Circus, which will be leased back to them. Mmm announced Tuesday that it had completed a $2 billion-plus buyout of its partner in the Cit圜enter complex.
MGM Resorts owns more land in Las Vegas than any other company, owning as much property as the Venetian and Palazzo (as well as Wynn and Encore). The casino is one of the few on the Las Vegas Strip owned by an independent operator. MGM will acquire and lease back the Bellagio to Blackstone for $245 million per year in a joint venture with MGM. While each of these hotels has its own unique features, they all provide an alternative to the traditional Vegas experience. These hotels include the Venetian, the Palazzo, the Wynn, and the Bellagio. However, many visitors are unaware that there are a number of hotels in Vegas that are not owned by MGM. Las Vegas is a world-renowned destination for gambling, shopping, and fine dining.
