Mgm resorts international announces agreement to sell operations of gold strike tunica for $450 million

Purchase price represents an approximate 11 times multiple on average adjusted property ebitda from 2019-2021 las vegas , june 9, 2022 /prnewswire/ -- mgm resorts international (nyse: mgm) ("mgm resorts" or the "company") today announced that it has reached an agreement to sell the operations of gold strike tunica ("gold strike") to cherokee nation entertainment gaming holdings, llc ("cne"), a subsidiary of cherokee nation businesses, for $450 million in cash, subject to customary adjustments. "i want to thank all of our gold strike employees who have consistently delivered world-class gaming and entertainment experiences to our guests," said bill hornbuckle, ceo & president, mgm resorts international.
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