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MGM Resorts Sells Northfield Park Venue for $546M
MGM Resorts International has sold its operations at MGM Northfield Park for $546 million to Clairvest Group Inc., as part of MGM’s strategy to focus on higher-growth assets like destinations and digital offerings. Despite the venue’s profitability and popularity, MGM CEO Bill Hornbuckle stated it no longer fits their core vision. Clairvest, a company known for investing in regional casinos, gains a stable and profitable venue, with net proceeds for MGM estimated at $420 million after taxes and expenses.