MGM Resorts finalizes sale of MGM Northfield Park’s operations

• Clairvest Group acquired the operations of MGM Northfield Park in Ohio
• The milestone acquisition has a $546m price tag
• Executives at MGM Resorts comment on the topic

The leading global gaming and entertainment company, MGM Resorts International, announced the completion of a major divestment earlier this week.

On Tuesday, the company confirmed the closing of the sale of the operations of MGM Northfield Park, a popular racino located in Northfield, Ohio.

The transaction is valued at nearly $550m

Clairvest Group Inc., acquired the operations of MGM Northfield Park in a transaction valued at $546m in cash.

MGM Resorts used the services of Weil, Gotshal & Manges LLP as legal counsel.

At the same time, Jefferies LLC and SMBC Nikko Securities America, Inc. served as advisors for the company on the strategic divestment.

A press release by MGM Resorts reveals that for the year ended December 31, 2025, MGM Northfield Park reported adjusted EBITDAR of approximately $142m.

Moreover, upon closing the transaction, MGM Resorts’ master lease agreement with VICI Properties Inc. was changed, reducing the annual rent by $53m.

Jonathan Halkyard, MGM Resorts’ CFO, spoke with excitement about the latest announcement.

"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," he revealed.

"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," the executive said in conclusion.

Bill Hornbuckle, MGM Resorts’ CEO and President, also commented on the closing of the sale of the operations of MGM Northfield Park.

He acknowledged the strong position of MGM Northfield Park, highlighting that the venue’s team plays a central role in the delivery of unrivaled customer 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," Hornbuckle said in conclusion.

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