MGM Resorts explores sale of casinos in Ohio and Massachusetts

MGM Resorts explores sale of casinos in Ohio and Massachusetts

Article brief provided by Bloomberg
  • Gillian Tan and Christopher Palmeri, Bloomberg
March 20, 2024 4:29 PM
  • Gillian Tan and Christopher Palmeri, Bloomberg

MGM Resorts International is exploring the sale of its casino operations at Ohio’s Northfield Park and in Springfield, Massachusetts, according to people with knowledge of the matter.

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The company is working with financial advisers, but the discussions are preliminary and may not result in any action, said the people, who asked to not be identified as the information is confidential. A spokesperson for MGM declined to comment on the discussions.

MGM’s management has been frustrated with the company’s share price. The stock has climbed less than 5% over the past two years despite growth in sales and profit. The largest operator of casinos on the Las Vegas Strip has been looking to build out its exposure to online gambling in the US and overseas.