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MGM Resorts to Sell MGM Springfield Real Estate to MGM Growth Properties for $400 Million

05/12/2021 01:09

04:58 AM EDT, 05/12/2021 (MT Newswires) -- MGM Resorts (MGM) said late Tuesday it has entered into a definitive agreement to sell the real estate assets of MGM Springfield to MGM Growth Properties (MGP) for $400 million in cash.

Under the deal, MGM Resorts will lease the property from MGM Growth and continue to operate the property. MGM Springfield will be added to the existing master lease between the companies.

MGM Resorts has a 42% economic interest in the operating partnership of MGP, according to the statement.

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