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Massive $17 BILLION Dollar BUYOUT of MGM Resorts Properties in Las Vegas - Consumer Confidence Up?
Dated: May 3 2022
A big casino landlord closed its acquisition of MGM Resorts International’s real estate spinoff, giving the buyer several more hotel properties on the Strip.
Caesars Entertainment spinoff Vici Properties said Friday that it completed its $17.2 billion buyout of MGM Growth Properties. The deal was first announced in August and included the assumption of about $5.7 billion of debt.
As part of the sale, Vici acquired several MGM Resorts-operated properties along Las Vegas Boulevard including Mandalay Bay, MGM Grand, The Mirage, Park MGM, New York-New York, Luxor and Excalibur.
It also picked up several other casino properties outside Nevada, including MGM Grand Detroit and MGM National Harbor near Washington, D.C.
All told, Vici is slated to receive more than $1 billion in initial annual rent from the newly acquired properties, the firm indicated.
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A Southern CA transplant, Dan has over 11 years in home financing with a multi-faceted background in lending and Real Estate. I have The main objective of providing the highest level of customer servi....
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