Silver Point Capital Finances Clairvest $546M Purchase of MGM Northfield Park

Silver Point Capital has announced its role as the financial backer for Clairvest Group’s $546 million acquisition of MGM Northfield Park, an MGM Resorts International property and the highest-grossing gaming facility in Ohio. The deal, first revealed on October 16, is projected to close in the first half of 2026, pending regulatory and licensing approvals.

Good to Know

• Transaction value: $546 million, expected to close by mid-2026.
• Silver Point Capital will act as Lead Arranger and Administrative Agent for financing.
• The VICI Properties master lease will be reduced by $54 million annually post-closing.

Silver Point’s Head of Direct Lending, Anthony DiNello, highlighted the firm’s role in structuring the financing package to match Clairvest’s investment strategy:

“We are pleased to deliver a tailored financing solution to the Clairvest team, as they bring a 25-year track record of investing in the gaming industry to their investment in Northfield Park.”

The credit facility led by Silver Point will support the acquisition and streamline Clairvest’s entry into one of the Midwest’s most lucrative gaming markets.

Located just outside Cleveland, MGM Northfield Park spans 74,000 square feet of gaming space and features approximately 1,600 video lottery terminals (VLTs). The venue also operates a half-mile horse racetrack, making it a cornerstone of Ohio’s racing and gaming sector.

Originally opened as a Hard Rock International property, it was acquired by MGM Resorts in 2019 for $275 million. Since then, the property has consistently ranked as Ohio’s top gaming venue by revenue.

MGM with Focus on Strategic Growth

When the transaction was announced, MGM Resorts President and CEO Bill Hornbuckle thanked the Northfield Park team for their contributions and reaffirmed MGM’s long-term strategy. He said:

“I want to thank our MGM Northfield Park employees who have consistently delivered world-class gaming and entertainment experiences to our guests. This is a great property with great opportunity ahead.

“At MGM Resorts, our vision is to be the world’s premiere gaming entertainment company. To achieve this vision, we’re focused on growing our digital business, developing our international expansion opportunities and continuing to invest in our leading integrated resorts domestically.”

Under the terms of the agreement, the master lease between MGM Resorts and VICI Properties will be amended and reduced by $54 million annually after closing. This adjustment reflects the property’s transition under new ownership while maintaining alignment with MGM’s broader asset-light strategy.

Industry analysts see the acquisition as a strong strategic move for Clairvest, expanding its portfolio in North America’s regulated gaming market with backing from one of the most established credit providers in the U.S.

Pending approvals, the deal will further consolidate Clairvest’s presence in the casino investment space and strengthen Silver Point’s position as a key financier for gaming and hospitality transactions.

FAQ

Who is acquiring MGM Northfield Park?

Clairvest Group is acquiring the property from MGM Resorts International for $546 million.

Who is financing the deal?

Silver Point Capital will provide financing and act as Lead Arranger and Administrative Agent for the credit facility.

When will the deal close?

The acquisition is expected to close in the first half of 2026, pending regulatory approvals.

What changes after the acquisition?

The VICI Properties master lease will be reduced by $54 million annually, reflecting the change in ownership.

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