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In a bold move to refocus its empire, MGM Resorts International announced plans to sell the operations of its Northfield Park racetrack and casino in Ohio to private equity firm Clairvest Group for $546 million in cash, the companies said Thursday.

Guided by Weil Gotshal & Manges LLP, MGM struck the deal with Clairvest-managed funds, which were advised by Chapman and Cutler LLP and Duane Morris LLP. The sale, part of MGM’s strategic pivot, underscores the company’s growing emphasis on digital ventures and international expansion.

A $546 Million Hand — and a New Strategy

“At MGM Resorts, our vision is to be the world’s premiere gaming entertainment company,” said Bill Hornbuckle, CEO of MGM Resorts International. “To achieve this vision, we’re focused on growing our digital business, developing our international expansion opportunities, and continuing to invest in our leading integrated resorts domestically.”

Once the deal closes, MGM said it expects to reduce its annual rent by $52 million under its master lease with VICI Properties, which owns the Northfield Park property. The company anticipates netting $420 million in proceeds after taxes and transaction costs.

Clairvest Doubles Down on Gaming Investments

Toronto-based Clairvest Group, no stranger to the gaming industry, will make its 17th investment in the gambling sector with this acquisition. According to Clairvest, its funds and co-investors will contribute $165 million in equity toward the deal.

“As we look ahead, we intend to build on the strong foundation laid by MGM and guide the continued expansion of the racino in the coming years,” said Michael Wagman, Clairvest’s president.

Northfield Park: A Powerhouse in Ohio’s Gaming Scene

Located between Cleveland and Akron, MGM Northfield Park spans 74,000 square feet of gaming space and includes a half-mile racetrack, 10 restaurants and bars, an 1,820-seat entertainment venue, and roughly 1,600 video lottery terminals.

The sale is expected to close in the first half of 2026, pending regulatory approvals.

Representatives for MGM declined to comment further, while Clairvest did not immediately respond to requests for comment.

The Stakes of Transformation

For MGM, this sale marks another chapter in its strategy to streamline operations and boost digital gaming ventures, a trend accelerating across the casino industry as traditional operators adapt to a tech-driven future.

With MGM to sell Northfield Park, the gaming giant appears to be cashing in one chip to buy into a bigger game — the rapidly expanding digital and global casino market, where innovation is the new high roller.