MGM Resorts International Announces $546 Million Sale of MGM Northfield Park Operations
On October 16, 2025, MGM Resorts International announced a significant financial move as it reached an agreement to sell the operations of MGM Northfield Park. The sale, valued at approximately $546 million in cash, is part of the company’s strategy to streamline operations and refocus its corporate objectives on growth and digital expansion.
This decision was reinforced by Bill Hornbuckle, CEO of MGM Resorts, who praised the contributions of MGM Northfield Park employees towards delivering high-quality gaming and entertainment experiences. He acknowledged that this property is not only a great asset but has substantial growth potential in the future. The company's vision is to position itself as a premier global gaming entertainment brand, which is driving its focus towards expanding its digital footprint and enhancing its international presence.
The financial details reveal that the $546 million sale price represents a notable multiple of approximately 6.6 times the adjusted EBITDA recorded for the twelve months ending June 30, 2025. For the same period, MGM Northfield Park reported an adjusted EBITDAR of roughly $137 million. Upon completion of this transaction in the first half of 2026—pending regulatory approvals—there will be a significant restructuring of MGM Resorts' financial commitments. Specifically, their master lease agreement with VICI will be amended to reduce the annual rental payments by $54 million.
Jonathan Halkyard, CFO and Treasurer of MGM Resorts, expressed confidence in the transaction, highlighting that it showcases the company's robust financial management and the ability to realize significant value from its assets. He further acknowledged the collaborative efforts with VICI as the real estate owner to facilitate a favorable lease agreement with Clairvest Group Inc., the entity purchasing the Northfield operations.
This sale represents a step forward following MGM Resorts' acquisition of MGM Northfield Park, previously known as Hard Rock Rocksino, in 2019 for $275 million. The recent divestiture is instrumental in aligning with MGM Resorts' long-term strategic goals, including capitalizing on digital opportunities and enhancing its integrated resort developments.
MGM Resorts International operates a diverse portfolio encompassing 31 hotel and gaming destinations globally. With an eye toward the future, the company remains focused on sustainable practices and enhancing the quality of life for its employees and the communities in which it operates. The parent company is recognized for its efforts to create immersive experiences, as indicated by their listing among FORTUNE® Magazine's World's Most Admired Companies.
Looking ahead, MGM Resorts is gearing up to finalize the details around this landmark deal, further fortifying its operational flexibility as it navigates the competitive landscape of the gaming and entertainment industry. As the transaction unfolds, stakeholders will be attuned to the implications it holds for MGM Resorts' broader strategic investments, especially in key international markets such as Japan.
This sale is expected to close after fulfilling all regulatory requirements, which showcases MGM Resorts' commitment to maximizing shareholder value while adapting their business strategy to include innovative approaches and advanced entertainment offerings.
This decision was reinforced by Bill Hornbuckle, CEO of MGM Resorts, who praised the contributions of MGM Northfield Park employees towards delivering high-quality gaming and entertainment experiences. He acknowledged that this property is not only a great asset but has substantial growth potential in the future. The company's vision is to position itself as a premier global gaming entertainment brand, which is driving its focus towards expanding its digital footprint and enhancing its international presence.
The financial details reveal that the $546 million sale price represents a notable multiple of approximately 6.6 times the adjusted EBITDA recorded for the twelve months ending June 30, 2025. For the same period, MGM Northfield Park reported an adjusted EBITDAR of roughly $137 million. Upon completion of this transaction in the first half of 2026—pending regulatory approvals—there will be a significant restructuring of MGM Resorts' financial commitments. Specifically, their master lease agreement with VICI will be amended to reduce the annual rental payments by $54 million.
Jonathan Halkyard, CFO and Treasurer of MGM Resorts, expressed confidence in the transaction, highlighting that it showcases the company's robust financial management and the ability to realize significant value from its assets. He further acknowledged the collaborative efforts with VICI as the real estate owner to facilitate a favorable lease agreement with Clairvest Group Inc., the entity purchasing the Northfield operations.
This sale represents a step forward following MGM Resorts' acquisition of MGM Northfield Park, previously known as Hard Rock Rocksino, in 2019 for $275 million. The recent divestiture is instrumental in aligning with MGM Resorts' long-term strategic goals, including capitalizing on digital opportunities and enhancing its integrated resort developments.
MGM Resorts International operates a diverse portfolio encompassing 31 hotel and gaming destinations globally. With an eye toward the future, the company remains focused on sustainable practices and enhancing the quality of life for its employees and the communities in which it operates. The parent company is recognized for its efforts to create immersive experiences, as indicated by their listing among FORTUNE® Magazine's World's Most Admired Companies.
Looking ahead, MGM Resorts is gearing up to finalize the details around this landmark deal, further fortifying its operational flexibility as it navigates the competitive landscape of the gaming and entertainment industry. As the transaction unfolds, stakeholders will be attuned to the implications it holds for MGM Resorts' broader strategic investments, especially in key international markets such as Japan.
This sale is expected to close after fulfilling all regulatory requirements, which showcases MGM Resorts' commitment to maximizing shareholder value while adapting their business strategy to include innovative approaches and advanced entertainment offerings.
Topics Business Technology）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.