The transaction includes about $5.7 billion in debt and is expected to close by next summer, subject to regulatory and stockholder approvals.
It announced with MGM Resorts on Wednesday that it will buy out MGM Growth Properties, a publicly traded landowner of holdings in eight states. VICI Properties is a real estate investment trust that owns properties and leases them back to hospitality and entertainment operators. 'Nothing is changing in terms of operations or branding,' he said. MGM Resorts property names will stay the same and gamblers, diners, shoppers and show-goers shouldn't notice any difference, company spokesman Brian Ahern said Thursday. will end up with properties in 15 states. LAS VEGAS - A New York-based real estate investment firm will emerge as the largest landholder on the Las Vegas Strip under a $17.2 billion property deal between landholding affiliates of casino giants Caesars Entertainment and MGM Resorts International.
