![]() ![]() The transaction is expected to close in the first half of 2023. MGM's master lease agreement with VICI Properties Inc (NYSE: VICI) will be amended to reduce annual rent by $40 million to account for the sale of the operations of Gold Strike. The company expects net cash proceeds after taxes and estimated fees to be about $350 million.įor the twelve months ended December 31, 2021, Gold Strike reported a net income of $81.1 million and Adjusted Property EBITDAR of $115 million. MGM Resorts International (NYSE: MGM) has decided to sell the operations of Gold Strike Tunica to Cherokee Nation Entertainment Gaming Holdings LLC (CNE), a subsidiary of Cherokee Nation Businesses, for $450 million in cash.
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