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Both transactions are expected to close in the third quarter. The closing of the Infinity World transaction is not contingent on the closing of the transaction with Blackstone, MGM said. Following the Blackstone acquisition, MGM Resorts will pay Blackstone $215 million per year in rent and continue to operate the hotels. Blackstone owns stakes in the real estate of other MGM hotels in Las Vegas. In 2020, Blackstone acquired nearly 50% of the Mandalay Bay and MGM Grand real estate. In 2019, Blackstone acquired 95% of the Bellagio real estate. In each of those deals, MGM Resorts pays rent and o...

4 Min Read (For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) (Updates to market close) NEW YORK, July 1 (Reuters) - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally. Investors now eye Friday’s much-anticipated employment report. The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August. “Historical data s...