MGM Resorts Sells Northfield Park for $546M, Shifts Expansion Strategy
MGM Resorts International has announced the sale of Northfield Park in Ohio to Clairvest Group for $546 million. The transaction, expected to close in the first half of next year, marks a significant shift in MGM's expansion strategy.
MGM, focused on global expansion and strengthening its US gaming presence, had originally acquired Northfield Park from Hard Rock International in 2018 for $275 million. The property, which hosts harness racing and features a casino with video lottery terminals (VLTs), has now been sold to Clairvest Group, which also owns Delaware Park Casino and Meadowlands Racing & Entertainment.
The sale comes after MGM recently withdrew from the race for a downstate New York casino license, indicating a strategic shift in its expansion plans. MGM's CEO Bill Hornbuckle thanked the Northfield Park team for their commitment, acknowledging their contribution to the company's success.
The sale of Northfield Park to Clairvest Group for $546 million reflects MGM's ongoing evaluation of its portfolio and strategic focus. As MGM continues to explore global expansion and strengthen its US presence, this transaction allows the company to redirect resources towards these key areas.
