Oct 15, 2019

MGM agrees to sell Bellagio for $4.25 billion

Dan Primack, author of Pro Rata

Photo: George Rose/Getty Images

MGM Resorts International on Tuesday announced it will sell its Bellagio Hotel and Casino in Las Vegas to the Blackstone Group, and then lease back the property, in a $4.25 billion deal.

By the numbers: It also agreed to an $825 million sale for Circus Circus with real estate mogul Phil Ruffin.

The bottom line: MGM has been under investor pressure to cut its debt, although earlier reports suggested that its Blackstone talks were for a larger deal that also would have included MGM Grand Las Vegas.

Go deeper... Earlier: Blackstone prepares to bet again on Vegas

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Barak Ravid, author of from Tel Aviv
1 hour ago - World

U.S. policy shift will allow taxpayer funding for projects in West Bank settlements

Friedman (L) with Netanyahu. Photo: Menahem Kahana/AFP via Getty Images

The U.S. and Israel will announce tomorrow that they are expanding three agreements on scientific cooperation to include Israeli settlements in the West Bank, Israeli and U.S. officials tell me.

Why it matters: This is a substantial policy shift for the U.S., which did not previously allow its taxpayers' money to be spent in the Israeli settlements.

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Axios
Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage" — Axios-Ipsos poll: Federal response has only gotten worse.
  2. Health: Hospitals face a crush — 13 states set single-day case records last week.
  3. Business: Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota cases traced to three Trump campaign events.
  6. World: Putin mandates face masks.
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Oriana Gonzalez
3 hours ago - Politics & Policy

McConnell: Confirming Amy Coney Barrett will help GOP retain Senate

Photo: Samuel Corum/Getty Images

Senate Majority Leader Mitch McConnell (R-Ky.) expressed no regrets about Judge Amy Coney Barrett's controversial confirmation, telling Politico in an interview that he believes the decision to place her on the Supreme Court just a week before the election will help Republicans retain the Senate.

Why it matters: With a week to go until Election Day, many Republicans are concerned that President Trump's unpopularity could cost them the Senate. McConnell has long viewed the transformation of the federal judiciary through the confirmation of young conservative judges as his defining legacy.

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