MGM Growth Properties LLC Priced, NYSE: MGP

MGM Resorts-backed REIT with an initial portfolio of 10 gaming properties.

Industry: Real Estate

Latest Trade: $29.38 0.00 (0.0%)

First Day Return: +4.8%

Return from IPO: +39.9%

Industry: Real Estate

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.
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IPO News for MGM Growth Properties LLC
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IPO Data
IPO File Date 03/22/2016
Offer Price $21.00
Price Range $18.00 - $21.00
Offer Shares (mm) 50.0
Deal Size ($mm) $1,050
IPO Data
IPO Date 04/19/2016
Offer Price $21.00
Price Range $18.00 - $21.00
Offer Shares (mm) 50.0
Deal Size ($mm) $1,050
Underwriters
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Company Data
Headquarters Las Vegas, NV
Founded 2015
Employees 2
Website www.mgmresorts.com