MGM Resorts completes the sale of Grand Victoria Casino | TravelDailyNews International
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MGM Resorts completes the sale of Grand Victoria Casino

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MGM Resorts International announced that it, together with its venture partner, had completed the previously announced sale of Grand Victoria Casino in Elgin, Illinois, of which a subsidiary of the company owned a 50% interest, to Eldorado Resorts for $327.5 million in cash, subject to a customary working capital adjustment.

MGM Resorts received its 50 percent share of the net proceeds after certain transaction costs, or approximately $162 million. The company acquired its 50 percent interest in Grand Victoria Casino in connection with its acquisition of Mandalay Resorts Group in 2005.

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