To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionVICI Properties to become largest net-lease REIT after $17.2b merger
VICI Properties will acquire MGM Resorts International for $17.2 billion.
Upon completion of the merger, VICI will have an estimated enterprise value of $45 billion, firmly solidifying VICI’s position as the largest experiential net-lease REIT.
MGP, together with its joint venture, currently owns a portfolio of properties, consisting of 12 premier destination resorts in Las Vegas and elsewhere across the United States, including MGM Northfield Park in Northfield, Ohio; Empire Resort Casino in Yonkers, N.Y.; as well as a retail and entertainment district, The Park in Las Vegas. As of Dec. 31, 2020, MGP’s portfolio of destination resorts, the Park, Empire Resort Casino, and MGM Northfield Park collectively comprised approximately 32,400 hotel rooms, 1.5 million square feet of casinos, and 3.6 million square feet of convention space.
