Caesars Just Opened a Sportsbook at the Ohio Venue MGM Just Sold for $546M

The transaction was completed on April 21, 2026, when MGM Resorts International officially closed on the sale of MGM Northfield Park to private equity funds managed by Clairvest Group Inc. for $546 million in cash. Three days later, Caesars Entertainment announced the opening of a new in-person Caesars Sportsbook at the venue — which had already been rebranded from MGM Northfield Park to simply Northfield Park Racino following the ownership change. The arc from MGM exit to Caesars entry took less than a week to complete.

The new sportsbook launched under a direct partnership between Caesars and Clairvest, which acquired the operating assets of the Cleveland-area racino after MGM Resorts decided to exit what it described as a non-strategic regional asset. For Caesars, the opening at Northfield Park expands its retail presence in Ohio, a state where the company already operates a sportsbook at Eldorado Scioto Downs in Columbus and maintains a mobile betting app that has been live since the state launched legal sports wagering on January 1, 2023.

What the New Sportsbook Looks Like

The Northfield Park Caesars Sportsbook features a large LED video wall for live sports viewing, five staffed betting windows, and self-service kiosks available around the clock. Customers can link their betting activity to the Caesars Sportsbook mobile app for deposits, withdrawals, and to earn Caesars Rewards points that can be redeemed across the broader Caesars network — including hotel stays, entertainment, and gaming at Caesars properties around the country. The new location also reinforces Caesars’ existing partnership with the Cleveland Cavaliers, for whom the company serves as an official sports betting partner.

The physical setup is designed to serve serious sports bettors and casual fans alike. The combination of staffed windows and around-the-clock kiosks gives bettors flexibility on how they want to transact, and the connection to the mobile platform means the in-person location functions as both a retail destination and a hub for the broader digital ecosystem Caesars has been building in Ohio.

How MGM Got Here — and Why It Sold

MGM’s decision to sell Northfield Park was announced in October 2025. At the time, MGM Resorts CEO Bill Hornbuckle characterized the property as one with genuine upside, but framed the sale as part of a strategic focus on MGM’s international expansion, digital business growth, and higher-tier integrated resort portfolio. The deal came after the property had generated approximately $142 million in adjusted EBITDAR for 2025, a strong result that helped drive the $546 million purchase price — representing roughly a 6.6x multiple on trailing EBITDA.

The property’s history is worth understanding. MGM Growth Properties acquired the venue in 2018 when it was operating as Hard Rock Rocksino Northfield Park. MGM Resorts bought the operations from that entity in 2019 for over $1 billion — a higher figure that reflected different market conditions and a different capital structure. By the time of the 2025-2026 sale, the real estate had been separated from the operating assets: VICI Properties, a real estate investment trust that was spun off from Caesars, owned the land and building, leasing it back to MGM Resorts for approximately $53 million annually. That lease was transferred to Clairvest as part of the transaction, on a new 25-year term with three 10-year renewal options.

What This Means for the Ohio Market

Ohio’s legal sports betting market launched at the beginning of 2023 and has grown steadily in the years since. The state allows both mobile and in-person wagering, and several major operators compete for market share across its various retail venues and digital platforms. Caesars’ decision to move quickly into Northfield Park as soon as the MGM transition closed reflects the competitive value of retail sportsbook locations tied to established gaming facilities — the built-in customer base of racino patrons creates foot traffic that pure digital operators cannot replicate.

For Ohio bettors near Cleveland, the change means a familiar venue now carries a different brand — and one with a rewards program that offers integration across a large national network. For anyone who had been betting through the MGM mobile platform in Ohio, BetMGM’s presence in the state is separate from the Northfield Park retail operation; the venue transition does not affect online access. The Ohio sportsbook market continues to see operator movement, and the Caesars entry at Northfield Park is one of the cleaner examples of how retail locations can change hands quickly when large property transactions close. Bettors visiting the venue will find the Caesars sportsbook experience fully operational from day one.