MGM Resorts also announced that it confidentially submitted a draft registration statement on Form S-11 to the SEC relating to MGP’s proposed initial public offering. MGM Resorts will contribute the real estate associated with ten of its premier properties (the “Properties”) and MGP will assume approximately $4 billion of debt, which is expected to be refinanced with the proceeds of debt and equity issuances.
LAS VEGAS, NV - MGM Resorts International (NYSE: MGM) (“MGM Resorts” or the “Company”) has announced that it will create a controlled real estate investment trust (“REIT”), to be named MGM Growth Properties LLC (collectively with its subsidiaries, “MGP”).
Structure Will Enhance Strategic Flexibility and Long-Term Shareholder Value
