MGM Resorts plans to announce that they have a buyer for their MGM Grand casino property in Las Vegas. That announcement is expected to come by the end of this year. In a conference call Wednesday, MGM CEO Jim Murren said the company plans to use the proceeds from the MGM Grand sale to reduce debt and invest in new growth opportunities, including a potential $10 billion casino in Japan and sports betting in the U.S.

This marks one of the final steps toward the MGM’s goal of becoming an “asset-light” casino operator. The company agreed this month to sell the Bellagio resort in Las Vegas for $4.25 billion while MGM continues to manage the property. MGM is also selling the Circus Circus casino to real estate mogul Phil Ruffin who owns Treasure Island.

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