MGM Resorts International is selling the operations of its MGM Northfield Park property to Clairvest Group for $546 million in cash. After paying taxes and other costs, MGM expects to get about $420 million from the deal.

The sale still needs to be approved by the regulators and should be completed in the first half of 2026. MGM said the move is part of its plan to focus more on online gaming, international projects, and improving its major resorts in the U.S.

The sale price is about 6.6 times what the property earned in operating profit over the past year, showing that MGM sold it at a strong and fair value.

Focus on Growth and Digital Expansion

MGM Resorts CEO and President, Bill Hornbuckle, thanked the Northfield Park team for their hard work and commitment. He said the property has a bright future ahead and that the sale supports MGM’s vision to become the world’s leading gaming and entertainment company.

Hornbuckle explained that MGM is now focusing on growing its digital gaming business, expanding internationally, and investing more in its top resorts in the U.S.

In recent years, MGM has been moving toward online gaming and global projects. The company believes selling some properties will help it focus on areas with stronger growth potential.

Strong Financial Outcome for MGM

Jonathan Halkyard, Chief Financial Officer and Treasurer at MGM Resorts, described the sale as an excellent result for the company. “This is an excellent result for MGM Resorts and demonstrates consistency in driving transaction multiples at meaningful premiums over where MGM Resorts currently trades,” he said. “The divestiture underscores MGM Resorts’ exceptional financial stewardship, delivering substantial value well beyond the original acquisition price.”

MGM bought the operations of Northfield Park in 2019 for $275 million. Before that, the property was owned by MGM Growth Properties, which purchased it in 2018 when it was called Hard Rock Rocksino Northfield Park.

As part of the new sale, MGM’s lease agreement with Vici Properties will be changed to reduce its yearly rent by $54 million.

A Strategic Shift in MGM’s Plans

The sale of Northfield Park happens MGM decided to withdraw its application for a commercial casino license in Yonkers, New York. The proposed $2.3 billion expansion of Empire City Casino was halted due to changes in competitive conditions and a shorter license term that reduced its appeal.

By selling Northfield Park, MGM continues to realign its portfolio, focusing on areas that offer stronger long-term potential. The company remains confident that this transaction will support its broader goals of financial stability, global expansion, and leadership in digital gaming and entertainment.