MGM Resorts Sells Ohio Gaming Property Northfield Park for $546 Million!

MGM Resorts International has officially announced the sale of its only Ohio property, Northfield Park, for $546 million. The buyer, Clairvest Group, is a Toronto-based private equity firm known for its diversified investments and increasing interest in the gaming sector. The deal marks another strategic shift by the Las Vegas-based gaming giant as it refocuses on digital operations, international expansion, and its core U.S. resort portfolio. MGM originally purchased Northfield Park in 2018 for $275 million, and this sale reflects nearly double that valuation.

MGM CEO and President Bill Hornbuckle expressed gratitude to the Northfield Park staff for their continued excellence in guest experience. He described the racino as a “great property with great opportunity ahead,” emphasizing that the sale aligns with MGM’s long-term business strategy of optimizing its asset base and concentrating on high-value markets.

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Clairvest Expands Its Gaming Footprint

The deal also involves MGM’s real estate partner, VICI Properties, which actually owns the land and buildings of Northfield Park. MGM had previously operated the racino under a lease from VICI. With this sale, MGM worked closely with VICI to facilitate a new lease agreement that will allow Clairvest to assume control of the operations seamlessly. The transaction is expected to close in the first half of 2026, pending regulatory approvals.

Clairvest Group currently manages over $4.6 billion in assets across multiple sectors, including insurance, healthcare, brewing, and technology. Its growing portfolio in the gambling industry now includes Wyoming Downs, Nash Casino in New Hampshire, Delaware Park Casino, and Meadowlands Racetrack in New Jersey. With the acquisition of Northfield Park, Clairvest strengthens its foothold in the U.S. gaming market and further diversifies its portfolio of revenue-generating assets.

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MGM’s Digital Focus Continues

While MGM Resorts is stepping away from Northfield’s physical operations, it remains deeply invested in Ohio’s gambling landscape through its digital arm, BetMGM. The online sports betting platform has been one of the leading operators in the Buckeye State since legal wagering began on January 1, 2023. BetMGM was among the first platforms to go live in Ohio and continues to rank among the top sportsbooks in terms of market share.

Under Ohio state law, every online sportsbook must be partnered with a land-based casino or professional sports team. With MGM exiting direct ownership of Northfield Park, it is expected that BetMGM will partner with Clairvest to maintain its license and operations in the state. This move ensures MGM continues to generate revenue and maintain brand presence in Ohio’s rapidly expanding online gaming market.

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Strategic Shifts Beyond Ohio

The sale of Northfield Park is part of MGM’s broader effort to reallocate resources and pursue global opportunities. The company has been increasingly active in digital gaming, with its BetMGM brand operating across numerous states in the U.S. and expanding into international markets. MGM is also focusing on enhancing its established resort properties in Las Vegas, Atlantic City, and Macau, aiming to strengthen high-margin segments such as luxury entertainment and destination travel.

Interestingly, MGM recently withdrew from the competition for a New York City casino license despite being a top contender early in the bidding process. This decision reflects a calculated pivot away from new large-scale land-based developments in favor of maximizing returns from existing assets and the booming digital gaming sector.

Looking Ahead

Industry analysts view MGM’s sale of Northfield Park as a smart, forward-looking decision that balances capital efficiency with future growth potential. For Clairvest, the acquisition represents both a stable revenue stream and an entry into a highly competitive U.S. gaming market, supported by MGM’s successful operational foundation.

Once the deal is finalized, MGM Resorts will continue to be a major player in Ohio’s gaming scene—just in a different form. Through BetMGM’s robust presence, the company will remain a dominant force in digital entertainment while redirecting its capital toward global expansion and cutting-edge gaming technology.

The MGM Northfield Park transaction highlights the evolving nature of the casino industry, where digital innovation and strategic partnerships are increasingly taking precedence over physical expansion. As MGM and Clairvest move forward, both companies appear poised to benefit from this new era of hybrid gaming operations that blend online growth with localized expertise.

Courtesy: CARDPLAYER