LLC, and Wells Fargo served as financial advisors to Blackstone. PJT Partners served as exclusive financial advisor and Weil, Gotshal & Manges LLP served as legal counsel to MGM Resorts on both transactions.Ĭitigroup Global Markets Inc., J.P. The transaction was announced on July 1, 2021. As of June 30, 2021, Cit圜enter had cash and cash equivalents of $307 million and total debt of $1.73 billion.
In connection with the closing of the transactions, the Company has fully retired Cit圜enter's debt.
In addition, MGM Resorts and Blackstone have also closed the previously announced sale-leaseback agreement for Blackstone to acquire the real estate assets of Aria and Vdara for $3.89 billion.įollowing the transaction, MGM Resorts has leased the property from Blackstone and continues to manage, operate and be responsible for all aspects of the property on a day-to-day basis.
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