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Negotiations Underway for Sale of Casinos MGM and Bellagio

Bellagio and MGM, two very famous casinos in Las Vegas, are likely to be sold at a time when players and poker enthusiast are monitoring the porker venues closely wondering where the 202 World Series main event will be held.

This summer’s WSOP finals took place at the Rio Centre, and with this latest announcement, it is likely that players might have to look for a new venue for the world’s most iconic competition.

Based on reports, Blackstone Group Incorporated has expressed interest in MGM grand and talks are underway to have it leased back to MGM resort. This will allow MGM to continue running porker. Reports also indicate that Bellagio may become part of a possible future purchase.

MGM owns several casino properties on either side of the Pacific Ocean. They also own a number of portfolios in China and the U.S. It seems like Las Vegas has plenty of Casino properties that can easily exchange hands and bring in good revenues.

Players and enthusiasts had not considered the fact that either Bellagio or MGM were frontrunners to host WSOP 2020. Both venues have car park facilities that are much smaller than what Rio has to offer.

A few questions are yet to be answered regarding the sale of these iconic porker venues. Key among them will be the changes to expect in structures that have a rich history that is part of Las Vegas itself. Las Vegas became a city in the year 1905.

MGM resorts are likely to the sale to grow their portfolio in another niche. The future is likely to be rife with spread purchasing and a potential shift to the west. In Asia, China is among the richest nations because it has business interests in diverse areas.

A few other like Japan are slowly gaining interest in porker and growing their markets. Therefore, it is likely that this latest move may set off a domino effect that will see casino ownership shuffle around in the next few years.

Source: https://calvinayre.com/2019/09/19/casino/las-vegas-casinos-mgm-grand-and-bellagio-up-for-sale/

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About the author

Catherine Wambui

Catherine Wambui

Catherine Nyaga is a freelance writer covering Real Estate and Technology. Her other interests include Nature, pets and accounting. She recently graduate from Nairobi University with a degree in Accounting.

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