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MGM Resorts bolsters liquidity with sale of real estate assets

5th August 2021 10:00 am GMT
Playtech

MGM Resorts International expects to receive cash proceeds of $4.4bn from VICI Properties’ proposed strategic acquisition of real estate investment trust MGM Growth Properties (MGP).

VICI has entered into a definitive agreement to acquire MGP for $17.2bn, including the assumption of $5.7bn of debt.

MGP shareholders will receive 1.366 shares of newly issued VICI stock in exchange for each Class A share of MGP at an agreed price of $43.00 per share, equivalent to a 16 per [...]

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