MGM Growth Properties NYSE IPO

Overview:

• MGM Growth Properties, a REIT which focuses on gaming properties, listed 50 million Class A common shares on the New York Stock Exchange.
• The IPO raised $1.2 billion. 
• MGM used the funds from the offer to acquire a 76% stake in an operating partnership.
• The operating partnership acquired real estate associated with Mandalay Bay, The Mirage, New York-New York, Luxor, Monte Carlo, Excalibur, The Park, MGM Grand Detroit, Beau Rivage and Gold Strike Tunica.

Rani Mehta - Journalist