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MGM Resorts International Announces Completion Of 37 1 Million MGP Operating Partnership Unit Redemption

Press release content from PR Newswire. The AP news staff was not involved in its creation. MGM Resorts International Announces Completion Of 37.1 Million MGP Operating Partnership Unit Redemption March 15, 2021 GMT MGM Resorts International (PRNewsfoto/MGM Resorts International) LAS VEGAS, March 15, 2021 /PRNewswire/ MGM Resorts International (NYSE: MGM) (“MGM Resorts”) today announced the completion of the redemption of approximately 37.1 million of its operating partnership units of MGM Growth Properties (“MGP”) Operating Partnership LP (the “Operating Partnership”) for aggregate cash proceeds of approximately $1.2 billion. Following the redemption, MGM Resorts’ ownership in the Operating Partnership was reduced from 53.0% to 42.1%. “Today’s announcement further demonstrates our commitment to the company’s asset-light strategy as we have significantly reduced our ownership stake in MGP to 42%, from 61% just one year ago,” said Jonathan Halkyard, Chief

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