MGM Resorts International, Along with its Venture Partner, Enter Agreement to Sell the Grand Victoria Casino for $327.5 Million to Eldorado Resorts

MGM Resorts International | April 16, 2018

LAS VEGAS, April 16, 2018 -- MGM Resorts International (the "Company" or "MGM Resorts") (NYSE: MGM), along with its venture partner, today announced the execution of a definitive agreement to sell the Grand Victoria Casino in Elgin, Illinois, of which a subsidiary of the Company owns a 50% interest, to Eldorado Resorts, Inc. (NASDAQ: ERI) for $327.5 million in cash, subject to a working capital adjustment. MGM Resorts will receive its 50 percent share of the net proceeds after certain transaction costs, or approximately $162 million. The transaction is expected to close within 12 months, subject to regulatory approva...