MGM Resorts buys sliver of land between 2 major Strip properties
By Patrick Blennerhassett Las Vegas Review-Journal
Pedestrians walk past a sliver of land between the Bellagio and The Cosmopolitan is shown on the Strip in Las Vegas on Friday, Jan. 12, 2024. MGM Resorts International recently purchased the 1.62 acres for $54 million. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
A sliver of land between the Bellagio and The Cosmopolitan is shown on the Strip in Las Vegas on Friday, Jan. 12, 2024. MGM Resorts International recently purchased the 1.62 acres for $54 million. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
A sliver of land between the Bellagio and The Cosmopolitan is shown on the Strip in Las Vegas on Friday, Jan. 12, 2024. MGM Resorts International recently purchased the 1.62 acres for $54 million. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
A sliver of land between the Bellagio and The Cosmopolitan is shown on the Strip in Las Vegas on Friday, Jan. 12, 2024. MGM Resorts International recently purchased the 1.62 acres for $54 million. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Pedestrians walk past a sliver of land between the Bellagio and The Cosmopolitan is shown on the Strip in Las Vegas on Friday, Jan. 12, 2024. MGM Resorts International recently purchased the 1.62 acres for $54 million. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Pedestrians walk past a sliver of land between the Bellagio and The Cosmopolitan is shown on the Strip in Las Vegas on Friday, Jan. 12, 2024. MGM Resorts International recently purchased the 1.62 acres for $54 million. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
A sliver of land between the Bellagio and The Cosmopolitan is shown on the Strip in Las Vegas on Friday, Jan. 12, 2024. MGM Resorts International recently purchased the 1.62 acres for $54 million. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
A sliver of land between the Bellagio and The Cosmopolitan is shown on the Strip in Las Vegas on Friday, Jan. 12, 2024. MGM Resorts International recently purchased the 1.62 acres for $54 million. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
A sliver of land between the Bellagio and The Cosmopolitan is shown on the Strip in Las Vegas on Friday, Jan. 12, 2024. MGM Resorts International recently purchased the 1.62 acres for $54 million. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
MGM Resorts recently bought an interesting sliver of property on the Strip. (OpenWeb)
The sliver of land is located just south of the Bellagio. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
MGM Resorts bought an interesting sliver of property on the Strip last year, according to Clark County property records.
MGM Resorts Land Holdings on May 15 bought 1.62 acres between the Bellagio and The Cosmopolitan, just south of the Bellagio fountains, for $54 million, property records show.
The long, slender piece of land, which is zoned a vacant lot, stretches a few hundred feet and is used as a roadway, parking lot, and garbage storage. Its view is blocked from the Strip by several trees.
Steven Haynes, a land adviser from Colliers International, in an email to the Las Vegas Review-Journal provided a little insight into the deal.
“Steve Wynn leased it from the previous buyer long ago when he owned the Bellagio,” he said via email about the sliver of land. “MGM inherited the lease, and they exercised an option to purchase now that they own both sides including The Cosmo and Bellagio.”
MGM Resorts acquired the operations of The Cosmo in 2022.
