Following the redemption, MGM Resorts' economic ownership stake in the Operating Partnership is approximately 69 percent.
With the deal, MGM Resorts has rebranded the property as MGM Northfield Park.Īs consideration for the transaction, MGM Growth Properties Operating Partnership LP redeemed approximately 9.4 million of its Operating Partnership units from a subsidiary of MGM Resorts, representing a purchase price of $275 million. MGM Resorts is leasing the land from MGP. MGM Resorts International has completed the acquisition of the operating assets of the Hard Rock Rocksino Northfield Park from MGM Growth Properties LLC.
