Headquarters: Las Vegas, NV, United States
Founded: October 23, 2015
USD as of April 1, 2022
MGM Growth Properties LLC (NYSE:MGP) is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. 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, MGM Northfield Park in Northfield, OH, Empire Resort Casino in Yonkers, NY, as well as a retail and entertainment district, The Park in Las Vegas. As of December 31, 2019, our destination resorts, the Park, Empire Resort Casino, and MGM Northfield Park collectively comprised approximately 27,400 hotel rooms, 1.4 million casino square footage, and 2.7 million convention square footage. As a growth-oriented public real estate entity, MGP expects its relationship with MGM Resorts and other entertainment providers to attractively position MGP for the acquisition of additional properties across the entertainment, hospitality and leisure industries.
MGM Growth Properties LLC is a real estate investment trust based in Summerlin South, Nevada, that invests in large-scale casino properties. The company has whole or majority ownership of 15 properties, all of which are operated by MGM Resorts International. The company leases the properties to MGM Resorts via triple-net leases and receives annual payments of $756.7 million. Vici Properties has agreed to purchase the company for $17.2 billion.
Source: Wikipedia, retrieved on March 31, 2022, 9:01 p.m.
Paul Salem, Chairman James C. Stewart, CEO
Revenue: $881 million (2019)
Net income: $275 million (2019)
Total assets: $11.9 billion (2019)
Total equity: $6.9 billion (2019)