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October 18, 2010

MGM to Sell Borgata Hotel Stake

MGM Resorts International plans to sell half of its stake in the Borgata Hotel Casino and Spa in New Jersey, US, for $250m. The Las Vegas-based company did not reveal details of the buyer nor the timeline for the sale. MGM said it intends to use the money for general corpora

By cms admin

MGM Resorts International plans to sell half of its stake in the Borgata Hotel Casino and Spa in New Jersey, US, for $250m.

The Las Vegas-based company did not reveal details of the buyer nor the timeline for the sale.

MGM said it intends to use the money for general corporate purposes, including debt repayments, according to philly.com.

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