Bellagio
Luxury anchor on the central Strip · MGM operates · VICI owns the dirt
Bellagio is the central-Strip luxury anchor — fountains, conservatory, Picasso restaurant — opened by Steve Wynn's Mirage Resorts in 1998 and sold to MGM Resorts in the 2000 Mirage Resorts acquisition. The underlying real estate was sold to VICI Properties in November 2019 ($4.25B for a 95% stake) in the largest single sale-leaseback in Strip history at the time. MGM continues to operate; rent is approximately $250M/year.
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