MGM to sell Mandarin Oriental, not likely to buy Wynn’s Boston Harbour

MGM Resorts, through its CityCenter Holdings joint venture with Infinity World Development, is to sell the Mandarin Oriental Las Vegas property and adjacent retail sites for $214m.

The sale of the 392-room property is expected to close in the summer of 2018.

Meanwhile, MGM confirmed its new $950m property [pictured] in Springfield, Massachusetts, will open on Friday, August 24, nearly a month ahead of schedule.

Michael Mathis, president of MGM Springfield, said: “A testament to a decade of collaboration between the city of Springfield and MGM Resorts, MGM Springfield will pay tribute to the city’s legacy and celebrate its bright future, while introducing a stellar array of hospitality and entertainment experiences that will attract guests from New England and beyond.”

Commenting on MGM Resorts Q1 results, CEO Jim Murren said the company was “committed to Springfield” and was “not likely” to buy Wynn Resorts under-construction Boston Harbor resort in Everett, Massachusetts.

Wynn is rumoured to be looking for a buyer for the property in the wake of the sexual misconduct scandal that has engulfed the company following allegations made against founder and former CEO Steve Wynn.