News in brief: MGM, Caesars, American Hotel Income Properties

MGM secures first Massachusetts casino license: MGM Resorts International received a unanimous vote from the Massachusetts Gaming Commission approving an agreement to award MGM Springfield a license to operate a resort casino in downtown Springfield.

Read more at New England Real Estate Journal


Caesars to shutter Atlantic City property: Caesars Entertainment Corp. announced it will close Showboat Atlantic City August 31 following persistent declines in business levels in the area exacerbated by the city’s high property taxes.

Read more at MarketWatch


REIT acquires four hotels: American Hotel Income Properties has agreed to acquire through its subsidiaries a portfolio of four branded hotel properties for an aggregate purchase price of approximately US$30.5 million. The four select-service hotel properties are located in North Carolina and Georgia and include two Fairfield Inn & Suites hotels, one SpringHill Suites hotel and one Hampton Inn.

Read more at Virtual Press Office