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MGM to Sell Mainstay Hotel for Investment in Japan

MGM to Sell Mainstay Hotel for Investment in Japan

   Los Angeles, Jan. 14 (Jiji Press)--Major U.S. casino operator MGM Resorts International said Tuesday it will sell its mainstay MGM Grand hotel to secure funds in hand, with an eye to investing in a casino-featuring integrated resort, or IR, in Japan.
   Combined with transactions announced earlier, including the completed sale of the Bellagio resort, MGM Resorts expects to receive net cash proceeds of 8.2 billion dollars.

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