Which vegas casinos are owned by caesars12/11/2023 The buyout likely won't result in noticeable changes at the resorts anytime soon, as VICI does not operate the properties but rather collects rent from the companies that do. All told, VICI is slated to receive more than $1 billion in initial annual rent from the newly acquired properties, the firm indicated. It also picked up several other casino properties outside Nevada, including MGM Grand Detroit and MGM National Harbor near Washington, D.C. As part of the sale, VICI acquired several MGM Resorts-operated properties along Las Vegas Boulevard including Mandalay Bay, MGM Grand, The Mirage, Park MGM, New York-New York, Luxor and Excalibur. The deal was first announced last August and included the assumption of about $5.7 billion of debt. Caesars Entertainment spinoff VICI Properties said April 29 that it completed its $17.2 billion buyout of MGM Growth Properties, the Las Vegas Review-Journal reported. LAS VEGAS (AP) - A big casino landlord closed its acquisition of MGM Resorts International's real estate spinoff, giving the buyer several more hotel properties on the Strip.
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