GMA quoted in the Nevada Independent
VICI Properties buying rival MGM Growth for $17.2 billion, will become Strip’s largest landowner
by Howard Stutz
Five months after agreeing to purchase the Strip properties owned by Las Vegas Sands, New York City based real estate investment trust (REIT) VICI Properties said it was acquiring an even larger chunk of the Strip, becoming the resort corridor’s largest landowner.
VICI announced Wednesday a $17.2 billion deal to buy out rival gaming REIT MGM Growth Properties, which owns the real estate of 15 casinos and resorts in eight states, including seven properties on teh Strip. All of MGM Growth’s properties are operated by MGM Resorts International.
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