MGM Resorts International has acquired a 50% ownership interest in CityCenter Holdings for $2.125 billion from Infinity World Development Corp. The purchase gives MGM Resorts a 100% ownership stake in CityCenter on the Las Vegas Strip, which is comprised of Aria Resort & Casino and Vdara Hotel and Spa.

In addition to this purchase, MGM Resorts has also entered into a deal with Blackstone Real Estate to monetize the Aria and Vdara real estate assets. Under the deal, which is pending the close of MGM's purchase from Infinity World, funds managed by Blackstone will acquire the Aria and Vdara real estate for $3.89 billion in cash. Once the deal is complete, MGM will lease both properties for an initial rent of $215 million annually.

Bill Hornbuckle, CEO and President of MGM Resorts, called the deal with Blackstone a reflection of the "unprecedented premium value of our real estate assets and is a testament to Aria and Vdara's status as premier destinations on the Las Vegas Strip." In addition, Tyler Henritze, head of U.S. acquisitions for the Americas at Blackstone Real Estate, said the deal reflects the company's confidence in the Las Vegas market, and the property itself is a "complementary" fit for the company's portfolio. The deal is especially noteworthy following the disruption from the pandemic last year.