MGM Resorts’ $3.9 Billion Leaseback Agreement With Blackstone

Weil, Gotshal & Manges advised MGM Resorts International on the deal.

MGM Resorts completed its pending $3.9 billion sale and leaseback of the Aria Resort and Vdara Hotel real estate at CityCenter to Blackstone. The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions.

MGM Resorts International is an American global hospitality and entertainment company operating destination resorts in Las Vegas, Massachusetts, Detroit, Mississippi, Maryland, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and Park MGM.

The Weil team advising MGM Resorts was led by Mergers & Acquisitions partner Michael J. Aiello (Pictuer) and included Mergers & Acquisitions partner Sachin Kohli and Mergers & Acquisitions associates Nate Trunnell, Karl de la Roche and Ting Liu. The team also included Real Estate Co-Head Michael Bond; Real Estate partner Nellie Camerik; Real Estate counsel Jason Comer and Jannelle Seales; Real Estate associates Elizabeth Jaikaran and Shira Barron; Tax Head Joseph Pari; Tax partner Dave Levy; and Tax associate Brian Senie.

Involved fees earner: Michael Aiello – Weil, Gotshal & Manges; Shira Barron – Weil, Gotshal & Manges; Michael Bond – Weil, Gotshal & Manges; Nellie Camerik – Weil, Gotshal & Manges; Jason Comer – Weil, Gotshal & Manges; Karl de la Roche – Weil, Gotshal & Manges; Elizabeth Shanaz Jaikaran – Weil, Gotshal & Manges; Sachin Kohli – Weil, Gotshal & Manges; David Levy – Weil, Gotshal & Manges; Ting Liu – Weil, Gotshal & Manges; Joseph Pari – Weil, Gotshal & Manges; Jannelle Seales – Weil, Gotshal & Manges; Brian Senie – Weil, Gotshal & Manges; Nate Trunnell – Weil, Gotshal & Manges;

Law Firms: Weil, Gotshal & Manges;

Clients: MGM Resorts International;

Author: Martina Bellini