MGM wins OK for $2.1B CityCenter deal, plans $3.89B sale

MGM Resorts International won Nevada Gaming Commission approval Thursday to buy out its United Arab Emirates partner in the development of the Las Vegas CityCenter complex. Following the $2.1 billion purchase, MGM intends to sell both properties on the site — the Aria and the Vdara — for $3.89 billion to The Blackstone Group, which would lease them back to MGM for $215 million a year.