MGM Resorts International has announced the sale of Northfield Park in Ohio to the private equity firm Clairvest Group for $546m. Once the transaction gets the relevant regulatory approval, it is expected to close in the first half of next year. Northfield Park hosts harness racing, and the attached casino offers video lottery terminals (VLTs).
purchased the property for $275m in 2018 from Hard Rock International
MGM originally purchased the property for $275m in 2018 from Hard Rock International. The company’s CEO and President Bill Hornbuckle thanked the team at Northfield Park for their commitment over the years.
He maintained that the company is focused on expanding its online gambling footprint, expanding globally, and continuing to cement its place in the US gaming sector. The news came just one day after MGM surprisingly withdrew from the race for one of three downstate New York casino licenses.
The soon-to-be owner of Northfield Park also has several gambling properties as part of its portfolio, including the Delaware Park Casino and Meadowlands Racing & Entertainment.
