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BRIEF-Mgm Resorts - Co, Mgm Growth Properties Entered Definitive Agreement Whereby Mgp To Buy Real Estate Assets Associated With Mgm Springfield In Western Massachusetts

05/11/2021 17:02
BRIEF-Mgm Resorts - Co, Mgm Growth Properties Entered Definitive Agreement Whereby Mgp To Buy Real Estate Assets Associated With Mgm Springfield In Western Massachusetts

- MGM Resorts International MGM.N:

  • MGM RESORTS - CO, MGM GROWTH PROPERTIES ENTERED DEFINITIVE AGREEMENT WHEREBY MGP TO BUY REAL ESTATE ASSETS ASSOCIATED WITH MGM SPRINGFIELD IN WESTERN MASSACHUSETTS

  • MGM RESORTS INTERNATIONAL - MGP WILL PAY TOTAL CONSIDERATION OF ABOUT $400 MILLION IN CASH

  • MGM RESORTS INTERNATIONAL - MGM SPRINGFIELD WILL BE ADDED TO EXISTING MASTER LEASE BETWEEN MGM RESORTS AND MGP

  • MGM RESORTS INTERNATIONAL - RENT PAYMENT TO MGP WILL INCREASE BY $30 MILLION, OF WHICH $27 MILLION WILL BE BASE RENT AND $3 MILLION WILL BE PERCENTAGE RENT

Source text for Eikon: ID:nPn1J3WhNa

Further company coverage: MGM.N


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