MGM Growth Properties LLC Offers to Buy Las Vegas Sands’ Sands Casino Resort Bethlehem in Pennsylvania

MGM Growth Properties LLC (MGP), owned and controlled by MGM Resorts International (MGM), has offered to buy the Bethlehem, Pennsylvania property of Las Vegas Sands Corp. (LVS), according to a report on Bloomberg.

Citing a person familiar with the matter, the report said the property, the Sands Casino Resort Bethlehem, could be valued at more than $1 billion.

The unnamed source told Bloomberg employees at the property have been informed of the potential sale.

According to Las Vegas Sands’ annual report, the company owns an 86% economic interest in the gaming, hotel and entertainment portion of Sands Bethlehem and about 35% in the retail portion, the report added.

In recent trading, MGP shares were up 1.4%, MGM shares were down 0.2% and LVS shares were down 0.4%.

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