MGM Resorts International Contemplates Selling Casino Assets in Massachusetts and Ohio

MGM Resorts International is in talks with financial advisors about potentially selling its casinos in Springfield, Massachusetts, and Northfield Park, Ohio. However, these discussions are in the early stages, and there's no guarantee they will result in any action. An MGM spokesman declined to comment on the talks, and the sources requested anonymity due to the sensitive nature of the information.

The management of MGM Resorts International is reportedly frustrated with the company's stock performance, which has seen minimal growth despite increased revenue and sales over the past two years. The company aims to expand its presence in online gambling both domestically and internationally.

The Springfield casino, which opened in 2018, has not met expectations. In Ohio, MGM Northfield Park, acquired from Hard Rock in 2019, has faced challenges despite generating $278 million in gambling revenue last year.

The real estate associated with both casinos is owned by Vici Properties Inc., which acquired MGM Growth Properties, MGM's real estate investment subsidiary, two years ago. Vici declined to comment on the sale discussions.

MGM Resorts is awaiting new regulations to legalize gambling in Abu Dhabi and Dubai. While the company is involved in a major development in Dubai, its plans for Abu Dhabi depend on which emirate is willing to host a gaming-led project, according to MGM CEO Bill Hornbuckle.