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LAS VEGAS, May 11, 2021 /PRNewswire/ MGM Resorts International ( MGM Resorts ) (NYSE: MGM) and MGM Growth Properties LLC ( MGP ) (NYSE: MGP) announced today that they have entered into a definitive agreement whereby MGP will purchase the real estate assets associated with MGM Springfield in Western Massachusetts. MGM Resorts will lease the property from MGP and continue to operate the property following the consummation of the transaction, with no expected change to its employees, vendors, customers, and the community.
MGP will pay total consideration of approximately $400 million in cash (which may include cash on hand or cash from financings, including borrowings under MGP s revolving credit facility).
MGM Resorts International And MGM Growth Properties Announce Transaction On MGM Springfield
MGP to acquire MGM Springfield real estate for $400 million in cash
Further advances MGM s asset-light commitment
Transaction expected to be immediately accretive to MGP s AFFO / share
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LAS VEGAS, May 11, 2021 /PRNewswire/ MGM Resorts International ( MGM Resorts ) (NYSE: MGM) and MGM Growth Properties LLC ( MGP ) (NYSE: MGP) announced today that they have entered into a definitive agreement whereby MGP will purchase the real estate assets associated with MGM Springfield in Western Massachusetts. MGM Resorts will lease the property from MGP and continue to operate the property following the consummation of the transaction, with no expected change to its employees, vendors, customers, and the community.
MGM Resorts International s 2020 Social Impact and Sustainability Report Now Available
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LAS VEGAS, May 6, 2021 /PRNewswire/ The MGM Resorts International s (NYSE: MGM) 2020 Social Impact and Sustainability Report is now available. The report solidifies the company s commitment to creating a sustainable future and making a difference in the lives of employees, guests and the communities in which it operates. Through the lens of the Covid-19 pandemic and the subsequent economic and operating challenges generated by the virus, this report offers insights into how the company continued to deliver against extraordinary and extenuating circumstances.
MGM Resorts International Recognized on the Forbes Best Employers for Diversity 2021 List
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LAS VEGAS, May 3, 2021 /PRNewswire/ MGM Resorts International (NYSE: MGM) was awarded recognition on the Forbes list of Best Employers for Diversity 2021. This prestigious award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider.
The Best Employers for Diversity were selected based on Statista s innovative methodology, guaranteeing unbiased results and providing reliable insights. Over 50,000 U.S. employees were surveyed in companies with a minimum of 1,000 employees to identify The Best Employers for Diversity.
MGM Resorts International Reports First Quarter 2021 Financial and Operating Results
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U.S. Regionals achieved record 1Q Adjusted Property EBITDAR and Adjusted Property EBITDAR margins
BetMGM delivered market share gains in the growing U.S. sports betting and iGaming market Advertisements
LAS VEGAS - MGM Resorts International (NYSE: MGM) ( MGM Resorts or the Company ) today reported financial results for the quarter ended March 31, 2021. We are pleased with the meaningful progress we ve made on multiple fronts this quarter, said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts International. Consumer demand strengthened at our domestic properties, and the significant changes we ve made to our operating model have positioned us to capitalize on the recovery. Our regional properties achieved record first quarter Adjusted Property EBITDAR and Adjusted Property EBITDAR margins. Las Vegas operating results improved seque