Announced
Completed
Financials
Tags
Domestic
Single Bidder
Hotels and Motels
Casinos and Gambling
casino
hotel
United States
Friendly
Majority
Acquisition
hotel operator
Private
Real Estate
Completed
Private Equity
Synopsis
VICI Properties, a real estate investment trust, completed the acquisition of a 49.9% stake in MGM Grand Las Vegas and Mandalay from Blackstone Real Estate Income Trust, a perpetual-life, institutional quality real estate investment platform, for $2.75bn. “VICI Properties has been an outstanding partner on these assets and we are incredibly pleased to have delivered such exceptional returns for our BREIT investors. Las Vegas continues to be a high conviction market for Blackstone," Jon Gray, Blackstone President and COO.
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