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VICI to take over full ownership of MGM Grand and Mandalay Bay

2nd December 2022 9:04 am GMT

New York-listed real estate investment trust VICI Properties has agreed a deal to take over full ownership of MGM Grand Las Vegas and Mandalay Bay Resort on the Las Vegas Strip.

VICI Properties currently owns a 50.1 per cent interest in the joint venture that owns MGM Grand Las Vegas and Mandalay Bay Resort, and has entered into a definitive agreement to acquire the remainder from Blackstone Real Estate Income Trust (BREIT).

VICI will pay a cash [...]

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