Vici CEO Ed Pitoniak said on a conference call that the deal creates the largest private owner of meeting and convention space in the country and the largest hotel owner in the U.S. Still, the buyout easily ranks among the biggest real estate sales the Strip has ever seen, significantly expands Vici’s already-growing portfolio on Las Vegas Boulevard, and comes as the valley’s tourism industry bounces back from the devastating spillover effects of the still-raging coronavirus pandemic. MGM Resorts will still operate all the properties Vici is acquiring, and the deal will not bring any changes for customers or employees at the resorts, MGM spokesman Brian Ahern said. The transaction - valued at $17.2 billion, including the assumption of about $5.7 billion of debt - is expected to close in the first half of 2022. (Ellen Schmidt/Las Vegas Review-Journal) major casino landlord is buying another in a $17 billion-plus deal, putting real estate ownership of many of Las Vegas’ biggest resorts under one company.Ĭaesars Entertainment spinoff Vici Properties reached a deal to acquire MGM Resorts International spinoff MGM Growth Properties, the companies announced Wednesday.
Caesars Entertainment spinoff-Vici Properties reached a $17 billion-plus deal to acquire MGM Resorts International-spinoff MGM Growth Properties, which will put the real estate ownership some of Las Vegas' largest resorts under one company. Visitors to the Las Vegas Strip pass MGM Grand on Wednesday, Aug.
