MGM Growth Properties, LLC (MGP) was a real estate investment trust (REIT) based in Summerlin South, Nevada, that invested in large-scale casino properties. The company had whole or majority ownership of 15 properties, all operated by MGM Resorts International, from which the REIT was spun out in 2015. Vici Properties leases the properties to MGM Resorts via triple-net leases,[1] since the REIT was acquired by Vici — a 2017 REIT spin-off from Caesars Entertainment Corporation[2] — in April 2022, for $17.2 billion.
History
The company was formed on October 23, 2015.