Vici Properties to Buy MGM Growth in $17 Billion Deal

Vici Properties Inc. is acquiring MGM Growth Properties LLC, including MGM Resorts International’s stake in the real estate investment trust, in a deal that values the takeover target at $17.2 billion.

The deal is part of MGM Resorts’ efforts “to become asset light,” Chief Executive Officer Bill Hornbuckle said in the statement. “We are well positioned and remain focused on pursuing growth opportunities in our core business, with significant financial flexibility to continue to deploy capital to maximize shareholder value.”

As part of the deal, MGM Resorts will own about 1% of the Vici operating partnership, worth roughly $370 million. The transaction, which needs approval from Vici shareholders, is expected to be completed in the first half of next year.MGM Resorts formed MGM Growth in 2016, and the two companies have since completed multiple deals, using the proceeds to return capital to shareholders and fund growth.

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Vici Properties to Buy MGM Growth in $17 Billion Deal

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The OnMyWay Texting and Driving Foundation

Vici Properties to Buy MGM Growth in $17 Billion Deal

OVERVIEW

Let’s Do This

Every big idea starts with a small step forward.

Every big idea starts with
a small step forward.