Vici, which already owns a 50.1 percent stake in the properties, is paying about $1.27 billion in cash and assuming Blackstone’s share of the debt on the resorts.Īccording to a presentation by Vici, it is assuming 49.9 percent of a $3 billion debt load, or nearly $1.5 billion.Īll told, this marks another huge investment by a landlord for casino real estate on the Strip. The transaction is expected to close early next year. Vici announced Thursday that it reached a deal to purchase financial giant Blackstone’s 49.9 percent stake in the properties, both of which are leased to casino giant MGM Resorts International. (Michael Quine/Las Vegas Review-Journal) landlord Vici Properties is taking full ownership of MGM Grand and Mandalay Bay’s real estate, in a nearly $1.3 billion cash sale.
Aerial view of the MGM Grand hotel casino on the south Las Vegas Strip at sunset on Wednesday, January 12, 2022.
