LAS VEGAS (AP) — MGM Resorts is spinning off its casino-resort real estate into a separate company that will lease the properties back to MGM. The Las Vegas-based casino giant announced early Thursday it would create a real estate investment trust called MGM Growth Properties LLC that would own 10 of its properties and assume $4 billion in debt. MGM Resorts says it will still own and operate the Bellagio, MGM Grand and Circus-Circus properties in Las Vegas and stakes in the Las Vegas Strip CityCenter, MGM China, Borgata in New Jersey and under construction Las Vegas arena. The new company would own Mandalay Bay, The Mirage, Monte Carlo, New York-New York, Luxor, Excalibur, The Park pedestrian mall and three regional properties in Michigan and Mississippi. MGM expects the shift to boost company value.Read more on NewsOK.com

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Living News