NORTHFIELD, OH (WOIO) - In a news release Thursday afternoon the Vegas casino giant MGM Growth Properties (MGP) announced it will buy the Hard Rock Rocksino in Northfield for $1.06 billion.
In 2017 the Rocksino became Ohio's top performing casino with a revenue mark of $232,588,868 according to the Ohio Lottery that regulates slot machines or video lottery terminal (VLT).
The casino reached that mark even though they are an all slot machine location, with no table games like blackjack, craps or roulette.
"MGP is proud to announce the acquisition of the Hard Rock Rocksino, the best performing gaming asset in Ohio. We are thrilled to join the Northeast Ohio community and look forward to continuing to work with the management team to consummate the transaction and identify a third-party tenant to operate the asset going forward," said James Stewart, Chief Executive Officer of MGM Growth Properties.
The deal is expected to be completed some time in the second half of 2018.
"MGM Growth Properties has many options and opportunities to invest all over the country, so we are especially proud and grateful that they have chosen to make such a meaningful investment in Ohio," according to Brock Milstein, Chairman of the Board at Hard Rock Rocksino Northfield Park.
Casino Life feature March 2017 http://casinolifemagazine.com/article/vegas-experience-ohio-address
News item from Cleveland19.com