Blackstone is in talks to buy the Bellagio and MGM Grand Scott Deveau, Gillian Tan and Christopher Palmeri, Bloomberg · September 16, 2019 at 2:27 pm Blackstone Group Inc. is in advanced talks to buy and lease back the iconic Bellagio and MGM Grand Las Vegas casinos from MGM Resorts International, according to people with knowledge of the matter. They have yet to agree on a transaction and one may not be reached, said the people, who requested anonymity because the talks are private. The terms of the potential deal couldn’t be learned. Representatives for Blackstone and MGM Resorts declined to comment. MGM Resorts has been exploring selling and leasing back the properties individually or bundled together, Bloomberg News reported in July. Property sales free up cash for casino companies to expand while letting them continue to manage their resorts.