Blackstone Ponders Partial Stake Sale of Iconic Las Vegas' Bellagio Hotel

Blackstone Inc. BX is reportedly considering offers to sell half of its interest in the real estate of the Bellagio Hotel in Las Vegas.

Blackstone purchased the property almost four years ago for $4.25 billion, Bloomberg reported, citing anonymous sources with knowledge of the matter. 

The New York-based investment firm is just weighing options and hasn't committed to a divestiture.

Also Read: Blackstone Injects $1B More Into Invenergy, Raising Total Stake To $4B To Propel Business Initiatives 

Bellagio is one of the "top-performing" resorts and is operated under a long-term lease by MGM Resorts International MGM, its original owner. 

Blackstone has recently inked a pact with Prologis, Inc. PLD to divest its 14 million square feet of industrial properties for $3.1 billion in cash. 

In May, Blackstone had agreed to sell its stake in SaaS startup IBS Software to Apax for $450 million.

Price Action: BX shares are trading higher by 1.59% to $90.19 on the last check Tuesday.

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