MGM Resorts Moves U.S. Casino-Resort Properties to New Company
MGM Resorts International is shifting 10 of its U.S. properties to a real estate investment trust (REIT), called MGM Growth Properties LLC, assuming $4 billion of the company’s debt.
The new company will own Mandalay Bay, The Mirage, Monte Carlo, New York-New York, Luxor, Excalibur, The Park, MGM Grand Detroit, Beau Rivage, and Gold Strike Tunica.
The deal is expected to be completed in early 2016.
Photo: Dietmar Rabich
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