CityCenter, partially owned by a Dubai World subsidiary to sell the Mandarin Oriental Las Vegas

CityCenter, partially owned by a Dubai World subsidiary to sell the Mandarin Oriental Las Vegas

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CityCenter Holdings, a venture between MGM Resorts International and Infinity World Development Corp, announced that it has recently entered into a definitive agreement to sell the Mandarin Oriental Las Vegas and adjacent retail parcels for approximately USD 214 million in cash, subject to satisfactory completion of due diligence and customary closing conditions.  The transaction is expected to close in the summer of 2018.

CityCenter, which is 50 percent owned by a wholly owned subsidiary of MGM Resorts International and 50 percent owned by Infinity World Development Corp (a wholly owned subsidiary of Dubai World), is a mixed-use development on the Las Vegas Strip located between the Bellagio and Monte Carlo resorts that includes ARIA Resort & Casino, a 4,004-room casino resort; Vdara Hotel and Spa, a 1,495-room luxury condominium-style hotel; and the Veer Towers, which contain 669 luxury condominium residences.

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The hotel is located at the entryway of CityCenter and in the heart of the Las Vegas Strip featuring 392 guestrooms, including 57 suites, over 1,000 square meters of meeting space, five food and beverage outlets, and a two-level 2,500 m2 spa.

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