MGM to sell Reno casino-hotels for $72.5 million
RENO, Nev. (AP) — MGM Resorts International says it's selling Circus Circus Reno and its stake in the Silver Legacy Resort Casino Reno to Eldorado Resorts Inc. for $72.5 million.
The casino-resort company announced the sale Tuesday.
MGM Resorts and Eldorado have each owned a 50 percent stake in Silver Legacy. Eldorado also owns the Eldorado Resort Casino Reno.
Silver Legacy is a 1,711-room mining-themed casino. Circus Circus Reno has 1,571 rooms and a carnival midway.
The two casino-hotels and Eldorado Reno are connected via indoor pedestrian bridges along North Virginia Street.
The companies expect the deal to close before the year's end.
Eldorado Resorts also owns Eldorado Resort Casino in Louisiana, Scioto Downs Racino in Ohio, Mountaineer Casino Racetrack & Resort in West Virginia and Presque Isle Downs & Casino in Pennsylvania.