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LAS VEGAS, Aug. 4, 2021 /PRNewswire/ — MGM Resorts International (“MGM Resorts” or the “Company”) (NYSE: MGM) today announced that it has entered into a definitive agreement with VICI Properties Inc. (“VICI”) (NYSE: VICI) and MGM Growth Properties LLC (“MGP”) (NYSE: MGP) whereby VICI would redeem a majority of MGP operating partnership units held by MGM Resorts for $43 per unit, or approximately $4.4 billion in cash, and acquire 100% of the outstanding class A shares of MGP in a stock-for-stock transaction. “In 2016 we started on our journey to become asset light and this announcement, together with our recently announced Springfield and CityCenter transactions, reflects the culmination of those efforts and a major step forward in simplifying our corporate structure,” said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts.
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