MGM Buys 50% of Sydell Group

Published reports also have another sale in the news. MGM Resorts is buying a 50% stake in the Sydell Group. Sydell is a boutique hotel operator and is non-gaming. This is the first time MGM has acquired an interest that doesn't invlove gaming. No sale figures have been announced on the transaction.

Sydell currently operates the Nomad Hotel at Park MGM. It's part of the hotel within a hotel concept.

An MGM spokesman said "It's part of our next evolution in growth opportunities."