MGM Resorts is selling the MGM Grand Las Vegas and Mandalay Bay to the Blackstone Real Estate Group. MGM will lease back the properties and continue to operate them. This continues a recent trend where MGM is selling properties and leasing them back. A few months ago MGM sold the Bellagio to Blackstone with a similar arrangement.

The average visitor shouldn’t notice a difference in the short term, but it does mean that MGM Resorts no longer owns the actual structure. The properties will continue to be part of the Mlife players club program.