5/30/2023 0 Comments The aria las vegasPrior to the pandemic, Las Vegas visitation was flat. There’s some jeopardy involved for companies like MGM Resorts, because if demand decreases, rents don’t, and tenants can find themselves in a pinch. The general trend has been less capital investment at hotels with lease-back deals, but overall, it’s business as usual for travelers. What does the sale of Aria and Vdara mean to guests? Circling back to why such casino sales are boring: Pretty much nothing.Īs the management of the hotels stays with MGM Resorts, anticipate little impact upon your visit. Why is MGM Resorts selling now? Probably to address some of its debt ($12 billionish long-term), but the company also says it may use the cash to “expand sports betting ventures” (that sound you hear is flushing money down the tubes) or “possible casino development in Japan.” Blackstone will soon own one of the more badass digital displays in Las Vegas. Proposed Blackstone slogan: Sin City’s Landlord. In case you’re unfamiliar with the name, Blackstone already owns several Las Vegas casinos, including Cosmopolitan, Bellagio, MGM Grand and Mandalay Bay. The sale of Aria and Vdara continue what MGM Resorts creatively calls its “asset-light strategy.” Who needs those pesky assets, anyway? Owning things is so 1960.Ī question few seem to be asking is why MGM Resorts sold Aria and Vdara to Blackstone rather than its own REIT (real estate investment trust), MGM Growth Properties. We’d better not see this Aria artwork in a yardsale. If you put the hit at $4 billion, the loss represents about as much as it took to build Resorts World, the most expensive casino resort ever built on the Las Vegas Strip. That means MGM Resorts and Infinity World have eaten billions in losses based upon their original investment. While it’s difficult to separate out the value of Aria and Vdara from the rest of Cit圜enter (Crystals mall was sold to Investco and Simon for $1.1 billion in 2016), they represent the bulk of the value. If you’ll remember from four paragraphs ago, Cit圜enter cost $9.2 billion. The company will pay Blackstone $215 million a year in rent. Saying Infinity World “took a haircut” is about the biggest understatement of the year other than “Paper straws create a less than ideal cocktail experience.” Dibs on the boats.Īt roughly the same moment MGM Resorts bought out Infinity World, it announced it will sell Aria and Vdara to Blackstone, a private equity firm, for $3.89 billion in cash.Īs part of a lease-back agreement, MGM Resorts will continue operating Aria and Vdara. This seems like a lot of money until you realize Cit圜enter cost $9.2 billion to build. Cover charge to enter the pool for guests not staying at the Aria ranges from $30-$60 (ladies typically pay less), but prices are subject to change.There’s some big, boring casino sale news today, and you know where to go for the story behind the story.įirst, MGM Resorts is buying out its 50/50 partner in Cit圜enter, Infinity World (part of investment firm Dubai World), for $2.1 billion. Entry into Liquid is complimentary for Aria guests, but special events required the purchase of a ticket. Guests can purchase tickets for parties featuring live performances and some of the hottest DJs in Vegas. Liquid Pool Lounge at Aria Resort Casino doesn’t fall short on entertainment or the Las Vegas party vibe. Check out the Liquid Pool atmosphere from 11 AM to 5 PM Wednesday to Sunday. The liquid pool lounge has different pool hours from the rest of the pool area. The 1,200-square-foot pool at the heart of this 16,000-square-foot pool lounge is the perfect destination for an indulgent Vegas pool experience you’ll never forget! Guests at Liquid Pool Lounge can enjoy the shade under one of many umbrellas or soak up some summer sun on the vibrant pool deck. This is also the only part of Aria swimming pools that’s open to non-hotel guests. The liquid pool lounge is an adults-only pool area.
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