> ## Content Index
> Fetch the complete content index at: https://hospitality.pro/llms.txt
> Use this file to discover other available public pages before exploring further.

# MGM to buy Vegas hotel and casino
- URL: https://hospitality.pro/mgm-buy-vegas-hotel-casino/
- Published: 2016-06-02T03:02:41.000Z
- Updated: 2016-06-02T03:02:41.000Z
- Author: Holedo
- Tags: Hospitality Industry News, Casinos and gaming industry, News, Purchases and Sales, #wordpress, #Import 2026-04-16 12:15

MGM Resorts International, the largest casino operator on the Las Vegas Strip, agreed to buy Boyd Gaming Corp’s 50 percent stake in Atlantic City’s Borgata hotel and casino for US$900 million,  
Bloomberg reported.  
As part of the deal, MGM Resorts will sell the entire property for US$1.18 billion to MGM Growth Properties LLC, a real estate investment trust it created earlier this year, and operate the Borgata under a lease-back accord.  
The agreement consolidates ownership and operational control of the most successful casino in the New Jersey gambling market. Boyd expects to receive US$600 million in net proceeds after deducting its share of the property’s debt. Borgata estimates it’s also entitled to tax refunds from the city totalling US$180 million.  
The deal represents a big bet by MGM on the future of Atlantic City, which has seen its annual casino revenue fall by half since 2005 to US$2.41 billion last year, according to Bloomberg Intelligence.