Saturday, January 28, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Real Estate

Regulators Vetting Casino Sale to MGM Real Estate Trust

MtR by MtR
June 24, 2021
in Real Estate
0


Related articles

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

Global anxiety over Chinese real estate crisis

August 10, 2022

The Gaming Commission began Thursday to wade through a complex proposed real estate transaction that would boil down to the MGM Springfield land and property being sold to MGM’s real estate investment trust for $400 million and it being leased back to MGM Resorts for $30 million annually to continue to operate the casino.

When the transaction was announced, the real estate investment trust – MGM Growth Properties – said it expected no change to MGM Springfield’s “employees, vendors, customers, and the community.” Even if the sale and change could have no significant impacts on the operations of the casino, the first to open under the Bay State’s 2011 expanded gaming law, the Gaming Commission must scrutinize each of the various moving parts and vote on whether to approve the transfer.

“We are excited to add MGM Springfield to our portfolio of high-quality gaming resort real estate and are encouraged by the property’s recent record financial performance. This transaction reflects the continued execution of our growth strategy,” James Stewart, CEO of MGM Growth Properties, said. When announced in May, the transaction was expected to close by the end of 2021.

MGM Resorts has executed similar transactions with other properties around the country as part of an “asset light” strategy that frees up liquid cash that the company can invest in other casinos, use to pursue sports betting expansion or to benefit shareholders. CDC Gaming Reports said MGM Springfield is the last of the MGM regional casino properties to be sold to MGM Growth Properties (MGP).

As of the end of 2020, the REIT controlled approximately 32,400 hotel rooms, 1.6 million square feet of casino facilities and 3.6 million square feet of convention space, it said.

“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,” the company said in its press release boilerplate.



Source link

Related Posts

Investment in overseas real estate surges : The DONG-A ILBO

by MtR
August 11, 2022
0

Ms. Kim in her 50s plans to go on a field survey to New York to see a studio condominium...

Global anxiety over Chinese real estate crisis

by MtR
August 10, 2022
0

The world’s second largest economy might have a real estate crisis looming. If that reverberates over to it’s globally-wired-in financial...

Health Care Real Estate Company Names New GC Ahead of Possible IPO

by MtR
August 10, 2022
0

Irvine, California-based real estate investment trust American Healthcare REIT has hired a new general counsel, less than a month after...

A day in the life of a Blackstone real estate associate

by MtR
August 10, 2022
0

Day in the life: Serena, Real Estate Management Associate at Blackstone, London Serena graduated from Cambridge University with a degree...

Boardwalk Real Estate: Q2 Earnings Snapshot

by MtR
August 10, 2022
0

CALGARY, Alberta (AP) _ Boardwalk Real Estate Investment Trust (BOWFF) on Tuesday reported a key measure of profitability in its...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Industrial Lubricants Market to Reach $71 Billion by 2027.

August 10, 2022

Recent News

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter