In Las Vegas, eight resorts will comprise the core of the new MGM Resorts with Marriott Bonvoy collection: Vdara Hotel & Spa, MGM Grand Hotel & Casino, NoMad Las Vegas, The Signature at MGM Grand, Mandalay Bay Resort and Casino, New York-New York Hotel & Casino, Luxor Hotel and Casino, and Excalibur Hotel & Casino.
Is MGM Resorts acquiring Marriott International and/or Marriott International acquiring MGM Resorts? No. This is an exclusive long-term license agreement whereby accommodations at specific MGM Resorts destinations will be available through Marriott's booking channels beginning later this fall.
LAS VEGAS, May 17, 2022 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) (MGM Resorts or the company) today announced the closing of its transaction with Blackstone to acquire the operations of The Cosmopolitan of Las Vegas (the property or The Cosmopolitan) for cash consideration of $1.625 billion.
Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate.
Vici recently completed the $17.2 billion acquisition of MGM Growth Properties making it by far the largest landlord on the Strip. The deal, which followed Vici's recent acquisition of the Venetian, makes the company the owner of the majority of the casinos on the Las Vegas Strip.
The current company was founded in 1983, when the previous owners sold the Ritz-Carlton brand name and the Ritz-Carlton hotel in Boston, Massachusetts. The brand was subsequently expanded to other locations. The company is a subsidiary of Marriott International.
Can I Earn and Redeem Marriott Bonvoy? Points when staying at Ritz-Carlton Reserve Properties? Yes, you can Earn and Redeem Points for Stays at all Ritz-Carlton Reserve Properties.