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MGM Resorts in talks to sell Circus Circus property

MGM Resorts International is in talks with real estate investor Phil Ruffin to sell its Circus Circus property in Las Vegas, Bloomberg News reported Sept. 20, citing people familiar with the matter.

In January, MGM Resorts constituted a committee to evaluate its real estate portfolio.

The Las Vegas-based resort operator is also reportedly in talks with Blackstone Group Inc. to off-load its Bellagio and MGM Grand Las Vegas casinos.

A sale could reportedly be announced as part of a larger transaction involving the company's real estate portfolio.

MGM Resorts CEO Jim Murren expects to announce the results of the board-level study of the company's real estate by early fall, Bloomberg noted.

MGM Resorts declined S&P Global Market Intelligence's request for comment.