“This is a great outcome for the company as we are able to reprioritize future capital expenditures toward opportunities that will enhance the customer experience at our other locations,” commented Jonathan Halkyard, CFO & Treasurer, MGM Resorts International. MGM stated that it anticipates the net cash proceeds after taxes and legal fees to be around $350m. For the 12 months ending December 31, 2021, Gold Strike recorded net income of $81.1m and an adjusted property EBITDA of $115m.įollowing the completion of the deal, MGM Resorts’ master lease agreement with VICI Properties, which currently includes Gold Strike, will be reduced by $40m. The deal is expected to close in H1 of 2023 and represents around x11 Gold Strike’s average adjusted EBITDA from 2019-2021. If you've been using KAYAK successfully up until now, try closing your browser and starting again.MGM Resorts has confirmed it has struck a deal worth $450m in cash to sell the operations of Gold Strike Tunica to Cherokee Nation Entertainment Gaming Holdings. Please send us a message and we'll try to figure out what went wrong.

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