MGM Growth Properties LLC IPO Info
Company Name: MGM Growth Properties LLC
Stock Symbol: MGP
Exchange: NYSE
Status: Priced
IPO Date: 4/20/2016
IPO Price: 21.00 (20.52%)
Underwriters
BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, Evercore ISIAmount of Offering: N/A
Number of Shares Offered: 50 Mil
Shares Outstanding After Offering: N/A
Valuation: N/A
Company Description
Overview of MGP
Following the completion of this offering, we expect to be one of the leading publicly traded REITs engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. In connection with this offering, we will acquire from MGM nine premier destination resorts in Las Vegas and elsewhere across the United States and one dining and entertainment complex which opened in April 2016. As of December 31, 2015, these properties collectively comprise 24,466 hotel rooms, approximately 2.5 million convention square footage, over 100 retail outlets, over 200 food and beverage outlets and approximately 20 entertainment venues. As a growth-oriented public real estate entity, we expect our relationship with MGM will attractively position us for the acquisition of additional properties across the entertainment, hospitality and leisure industries that MGM may develop in the future.
