MGM Resorts International announced that it has closed on the sale of the operations of MGM Northfield Park to private equity funds managed by Clairvest Group Inc. for $546 million in cash.

“MGM Northfield Park is a market‑leading property supported by a talented team that has consistently delivered outstanding guest experiences. The property has a strong foundation, and we extend our best wishes to the team and new ownership for continued success in the next chapter of the property’s evolution,” said Bill Hornbuckle, CEO & President of MGM Resorts International.

“The closing of this transaction underscores the value of MGM’s high-quality operations and provides an opportunity to divest a non-strategic regional asset at a significantly higher multiple than currently ascribed to our premium portfolio. The proceeds will be deployed in line with our priorities of maintaining a strong balance sheet, selectively investing in growth opportunities, and returning capital to shareholders,” said Jonathan Halkyard, CFO of MGM Resorts International.

For the year ended December 31, 2025, MGM Northfield Park reported Adjusted EBITDAR of approximately $142 million1. At the closing of the transaction, MGM Resorts’ master lease agreement with VICI Properties Inc, which currently includes MGM Northfield Park, was amended to reduce annual rent by $53 million. The Company expects estimated net cash proceeds after taxes and transaction costs to be approximately $420 million.

Jefferies LLC and SMBC Nikko Securities America Inc. served as advisors and Weil, Gotshal & Manges LLP served as legal counsel to MGM Resorts.

MGM Resorts International has reached a significant milestone in its renewable energy strategy, now powering up to 100% of its daytime electricity needs on the Las Vegas Strip with solar energy. The achievement was made possible after the Company began receiving 115 MW of solar energy and 400 megawatt-hours (MWh) of battery storage in December of 2025 from the recently completed Escape Solar and Storage Project, located in Lincoln County, Nevada.

By combining power from the newly activated Escape Solar and Storage Project with the Company’s 100-megawatt (MW) Mega Solar Array, MGM Resorts has more than doubled its access to renewable energy. In addition, the battery system from Escape Solar allows MGM Resorts to store solar energy generated during peak production hours and use it during evenings and other lower-production periods.

“With this new project coming online, we are accelerating progress toward our goal of using 100% renewable electricity domestically by 2030. Together with our Mega Solar Array, the new Escape Solar and Storage Project reflects our focus on scalable, impactful clean-energy solutions. It also demonstrates that our industry can operate more sustainably while delivering long-term cost stability, strengthening our business and supporting a more resilient energy future,” said Bill Hornbuckle, CEO and President of MGM Resorts.

MGM resorts announced a 25-year power purchase agreement with Escape Solar LLC in September of 2024 to amplify the Company’s renewable energy capabilities and extend production to cover up to 100% of its Las Vegas properties’ total daytime needs.

As an operator of large-scale resorts, MGM Resorts remains focused on expanding renewable energy use to lower long-term energy costs and mitigate exposure to energy price volatility. Since 2016, the Company has significantly reduced carbon emissions through investments in renewable energy projects, including:

• 323,000-panel Mega Solar Array providing 100 MW to MGM Resorts locations in Las Vegas

• 26,000 solar panels atop the Mandalay Bay Convention Center providing 8.3 MW to that property

• 100-kW rooftop solar array to help power T-Mobile Arena

• 3456 solar panels atop the parking garage at MGM Springfield in Massachusetts.

MGM Resorts International announced that Corey Sanders, Chief Operating Officer, will retire from the company after more than 30 years of dedicated service and leadership. Sanders has agreed to remain COO through Dec. 31, 2025, and to serve as an advisor to the President and CEO through Dec. 31, 2026. The Company intends to name a new COO to serve as Sanders’ successor later this month.

“It’s impossible to overstate what Corey has meant to this Company over the last 30-plus years. He has been a constant presence, providing foundational leadership for all the key moments that have defined our history – from our acquisitions of Mirage Group and Mandalay Resort Group to our regional property openings and expansions like Springfield, National Harbor, Empire City and Borgata. More importantly, Corey helped us put all the different pieces together to create one company and one culture. As a leader and as a person, Corey understood the importance of caring for employees and treating people with respect. He will be deeply missed,” said Bill Hornbuckle, President & CEO of MGM Resorts.

Sanders is currently MGM Resorts’ Chief Operating Officer, overseeing the company’s Las Vegas and regional properties as well as multiple corporate departments, including Hospitality, Gaming, Human Resources and Strategic Initiatives. Prior to that, he served as the company’s Chief Financial Officer and Treasurer. In his tenure with MGM Resorts, Sanders has also served as Chief Operating Officer for the company’s Core Brands, Executive Vice President of Operations for MGM MIRAGE, Executive Vice President and Chief Financial Officer for MGM Grand Resorts, Executive Vice President and CFO for MGM Grand, Assistant Vice President of Corporate Finance and Tax Director for MGM Grand.