Blackstone weighing offers for Bellagio casino stake - Bloomberg News
Reuters
Published Jun 26, 2023 06:53PM ET
(Reuters) - U.S. investment giant Blackstone (NYSE:BX) Inc is fielding offers for half of its interest in the real estate of the Bellagio hotel in Las Vegas, Bloomberg News reported on Monday.
The investment firm is considering its options and has not committed to a sale, the report said, citing people familiar with the matter.
Blackstone had bought Bellagio from MGM Resorts (NYSE:MGM) International for $4.25 billion in 2019.
New York-based Blackstone has been cashing out of its real-estate positions. On Monday, it said it would sell industrial properties for $3.1 billion to Prologis (NYSE:PLD) Inc.
Blackstone did not immediately respond to a Reuters request for comment, while MGM declined to comment.
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Written By: Reuters
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