Realty Income, a a real estate investment trust, agreed to acquire a 21.9% stake in Bellagio Las Vegas, a resort, luxury hotel and casino, from Blackstone Real Estate Income Trust, a real estate investment platform, for $950m. "Realty Income seeks to invest in high-quality real estate at scale in partnership with operators who are leaders in their respective industries. This transaction to acquire an interest in the Bellagio, an iconic property, represents our second investment in the gaming industry and exemplifies the advantages of our size, scale and access to capital. We are pleased to initiate our Credit Investment platform through a preferred equity investment in the Bellagio joint venture. Credit Investments are a natural adjacency to our traditional business, allowing us to provide additional value to our clients while leveraging our core competencies in transaction sourcing and structuring, and real estate and credit underwriting and monitoring," Sumit Roy, Realty Income President and CEO.