Wake Up Call: Two Firms Help Blackstone Sell Vegas Hotels Stake

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• Simpson Thacher is representing Blackstone Inc.’s real estate fund in the private equity firm’s agreement to sell its stake in a joint venture that owns MGM Grand Las Vegas and the Mandalay Bay to Vici Properties Inc. Hogan Lovells is advising VICI Properties, according to a statement.
• Blackstone, which owned 49.9% of the two hotels, will get $1.27 billion in cash. Vici, the other owner in the joint venture, will also take on Blackstone’s share of debt. Bloomberg News ...