Blackstone Stake Sale Mandalay Bay at $5.5 Billion

Blackstone Inc. has decided to sell its 49.9% ownership of two hotels in Las Vegas.

A deal that places a $5.5 billion value on the assets.

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One of the year's greatest casino transactions in the United States

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Blackstone would be compensated with $1.27 billion.

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And Vici would take on a $3 billion debt that Blackstone currently owes.

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The rent paid by MGM Resorts International is currently $300 million and is rising by 2% annually.

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Blackstone paid $5.65 billion earlier this year to sell the Cosmopolitan hotel and casino on the Las Vegas Strip.

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It was the business's most successful asset sale to date.

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