MGM Resorts International has finalized the $546 million sale of MGM Northfield Park’s operations to Clairvest Group, completing a deal first agreed in October last year.
With the transaction now closed, operational control of the Ohio racino transfers to Clairvest, marking its 17th investment in the gaming sector. It remains unclear whether the property will be rebranded under new ownership.
MGM Northfield Park features 74,000 square feet of gaming space, including around 1,600 video lottery terminals, alongside a half-mile harness racetrack, multiple dining outlets, and a large entertainment venue.
Clairvest’s broader portfolio includes assets such as Wyoming Downs, Delaware Park, and Meadowlands Racetrack, as well as gaming operator Accel Entertainment.
Bill Hornbuckle, President and CEO of MGM Resorts International, said:
MGM Northfield Park is a market‑leading property supported by a talented team that has consistently delivered outstanding guest experiences. The property has a strong foundation. We extend our best wishes to the team and new ownership for continued success.
MGM noted that the venue did not align with its “premium portfolio” strategy, despite generating approximately $142 million in adjusted EBITDAR in 2025. Following the sale, the company will revise its lease agreement with VICI Properties, reducing annual rent by around $53 million.
The operator expects net proceeds of roughly $420 million after taxes and transaction costs.
Jonathan Halkyard, Chief financial officer of MGM, said:
The closing of this transaction underscores the value of MGM’s high-quality operations. It provides an opportunity to divest a non-strategic regional asset at a significantly higher multiple than currently ascribed to our premium portfolio. The proceeds will be deployed in line with our priorities of maintaining a strong balance sheet, selectively investing in growth opportunities, and returning capital to shareholders.
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