MGM Sells Northfield Park for $546m to Private Equity Firm

MGM Resorts Worldwide has introduced the sale of Northfield Park in Ohio to the non-public fairness agency Clairvest Group for $546m. As soon as the transaction will get the related regulatory approval, it’s anticipated to shut within the first half of subsequent yr. Northfield Park hosts harness racing, and the connected on line casino provides video lottery terminals (VLTs).

bought the property for $275m in 2018 from Exhausting Rock Worldwide

MGM initially bought the property for $275m in 2018 from Exhausting Rock Worldwide. The corporate’s CEO and President Invoice Hornbuckle thanked the staff at Northfield Park for his or her dedication over time.

He maintained that the corporate is targeted on increasing its on-line playing footprint, increasing globally, and persevering with to cement its place within the US gaming sector. The information got here simply at some point after MGM surprisingly withdrew from the race for one in every of three downstate New York on line casino licenses.

The soon-to-be proprietor of Northfield Park additionally has a number of playing properties as a part of its portfolio, together with the Delaware Park On line casino and Meadowlands Racing & Leisure.