mgm growth properties
VICI Properties Inc. Completes $17.2 Billion Strategic Acquisition of MGM Growth Properties
VICI Properties Inc. | May 2, 2022
– Adds 15 Marquee Assets Expanding Real Estate Portfolio to 43 Class-A Properties – – Increases Annual Rent by Over $1.0 Billion – – Diversifies Tenant Base to Eight Best-In-Class Operators – – Closes on $5.0 Billion of Investment Grade Senior Unsecured Notes – – Settles the Exchange Offer and Consent Solicitation for Notes Originally Issued by MGP NEW YORK--May 2, 2022--VICI Properties Inc. (NYSE: VICI) (“VICI,” “VICI Properties” or the “Company”), an experiential real estate investment trust, today announced it has closed on the previously announced acquisition of MGM Growth Properties LLC (NYSE: MGP) ("MG...
MGM Resorts, MGM Growth Properties and Blackstone REIT Complete Acquisition of MGM Grand Las Vegas and Mandalay Bay Real Estate for $4.6 Billion
MGM Resorts International | February 14, 2020
MGM Resorts Executes Long-Term Lease with Joint Venture for Both Properties LAS VEGAS and NEW YORK, Feb. 14, 2020 -- MGM Resorts International ("MGM Resorts") (NYSE: MGM), MGM Growth Properties LLC ("MGP") (NYSE: MGP) and Blackstone Real Estate Income Trust ("BREIT") today announced the closing of the previously announced transaction for a joint venture formed between MGP and BREIT to acquire the Las Vegas real estate assets of the MGM Grand and Mandalay Bay for $4.6 billion. In addition, BREIT has purchased approximately 4.9 million MGP Class A shares at a price of $30.67 per share. In connection with the completion of the transacti...
MGM Grand Real Estate to be Acquired by Joint Venture of MGM Growth Properties and Blackstone REIT
MGM Resorts International | January 14, 2020
The Joint Venture, which will be owned 50.1% by MGP and 49.9% by BREIT, will also acquire the real estate assets of Mandalay Bay from MGP and will lease both properties to MGM Resorts for an initial rent of $292 million LAS VEGAS, Jan. 14, 2020 /PRNewswire/ -- MGM Resorts International (the "Company" or "MGM Resorts") (NYSE: MGM) today announced that it has entered into a definitive agreement pursuant to which a newly formed joint venture between MGM Growth Properties LLC ("MGP") and Blackstone Real Estate Income Trust ("BREIT") (the "Joint Venture") will acquire the MGM Grand Las Vegas real estate assets in a transaction valued at ...
MGM Resorts to Acquire Operations of the Hard Rock Rocksino in Northfield, Ohio from MGM Growth Properties for $275 million
MGM Resorts International | September 19, 2018
LAS VEGAS, Sept. 19, 2018 -- MGM Resorts International ("MGM Resorts") (NYSE: MGM) and MGM Growth Properties LLC ("MGP") (NYSE: MGP) today announced that they have entered into an agreement whereby MGM Resorts will acquire all of the operating assets of the Hard Rock Rocksino Northfield Park (the "Rocksino") from MGP and lease the real property associated with the Rocksino from a subsidiary of MGP. MGM Resorts will pay total consideration of approximately $275 million, subject to customary working capital and other adjustments. The Rocksino will be added to the existing master lease between MGM Resorts and ...
MGM Growth Properties LLC and MGM Resorts International Complete Transactions for Acquisition of Borgata Hotel Casino & Spa
MGM Growth Properties LLC | August 2, 2016
LAS VEGAS, Aug. 2, 2016 -- MGM Growth Properties LLC (NYSE: MGP) and MGM Resorts International ("MGM Resorts") (NYSE:MGM) completed the transactions for the acquisition of Borgata Hotel Casino & Spa ("Borgata") following MGM Resorts' purchase of Boyd Gaming's stake in Borgata. MGP acquired Borgata's real property from MGM Resorts and leased back the real property to a subsidiary of MGM Resorts that will operate that property. MGP funded the acquisition of the Borgata real property and refinanced its assumption of $545 million of debt from a subsidiary of MGM Resorts with $260 million of cash on hand, ...
MGM Resorts and MGM Growth Properties to Acquire 50% Stake in Borgata Hotel Casino & Spa for $900 Million
MGM Resorts International | June 1, 2016
LAS VEGAS, June 1, 2016 -- MGM Resorts International (NYSE: MGM) and MGM Growth Properties LLC (NYSE: MGP) today announced that MGM Resorts has entered into a definitive agreement to acquire Boyd Gaming Corporation's ("Boyd Gaming") (NYSE:BYD) 50 percent interest in Borgata Hotel Casino & Spa ("Borgata") in Atlantic City, New Jersey for consideration of $900 million. Further, MGM Resorts and MGP have entered into a definitive agreement whereby, following the completion of the acquisition of Boyd Gaming's interest, MGP will acquire Borgata's real property from MGM Resorts and lease back the real proper...
MGM Resorts International Appoints Real Estate and Banking Veterans to Lead MGM Growth Properties
MGM Resorts International | January 14, 2016
James C. Stewart to Serve as CEO and Andy H. Chien to Serve as CFO of Real Estate Investment Trust ("REIT") LAS VEGAS, Jan. 14, 2016 -- MGM Resorts International (NYSE: MGM) ("MGM Resorts") today announced the selection of James C. Stewart, previously a managing director and head of the Gaming, Lodging and Leisure Group at Greenhill & Co., as Chief Executive Officer of MGM Growth Properties LLC ("MGP"). The Company also announced today that Andy H. Chien, previously a managing director of Real Estate, Gaming, Lodging and Leisure at Greenhill & Co., has been selected as Chief Financial Officer of MG...
MGM Resorts International to Create REIT, MGM Growth Properties LLC (MGP)
MGM Resorts International | October 29, 2015
LAS VEGAS, Oct. 29, 2015 -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today announced that it will create a controlled real estate investment trust ("REIT"), to be named MGM Growth Properties LLC (collectively with its subsidiaries, "MGP"). MGM Resorts will contribute the real estate associated with ten of its premier properties (the "Properties") and MGP will assume approximately $4 billion of debt, which is expected to be refinanced with the proceeds of debt and equity issuances. MGM Resorts also announced that it confidentially submitted a draft registrati...
