The property is served by a four-level parking garage and features several restaurants and entertainment venues along 3rd Street. The eight-story Gallery Tower was completed in 2020, for a total of 1,124 rooms. The East Tower is connected to the ground level casino. Set on 6.27 acres (2.54 ha) at 3rd Street and East Ogden Avenue, the Downtown Grand initially had two hotel towers: to the east, the 18-story Casino Tower built in 1985 with 295 rooms, and to the west, the 25-story Grand Tower with 334 rooms. The Downtown Grand is the centerpiece of Downtown3rd, a new neighborhood and entertainment district in downtown Las Vegas. Comcast owns NBCUniversal, the parent company of NBC News.The Downtown Grand, formerly the Lady Luck, is a hotel and casino in downtown Las Vegas, Nevada, owned by CIM Group and operated by Fifth Street Gaming. Both Apple and Comcast have looked at acquiring MGM in recent years and determined its value to be about $6 billion, two sources familiar with those talks said.

The deal is a financial win for MGM, which was reportedly valued at just $5.5 billion, including debt, at the end of last year. Smaller Hollywood players such as ViacomCBS, Fox Corp., Lionsgate and AMC are all likely to be acquired within a matter of years, many industry insiders predict. Discovery and WarnerMedia announced plans to merge last week. The deal comes amid a new round of consolidation in media as companies seek greater scale to compete in streaming against bigger companies such as Netflix and Disney.

MGM is Amazon’s second-biggest acquisition ever following the $13.7 billion purchase of Whole Foods in 2017. The deal will give the e-commerce and cloud computing giant a famed studio and catalog of film and television titles to beef up its Amazon Prime streaming service, from the James Bond and 'Rocky' franchises to TV series such as “The Handmaid’s Tale” and “Fargo.”

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