Vici to acquire remaining stake in MGM Grand and Mandalay Bay JV for $1.27bn

| By Richard Mulligan
Casino real estate investment trust Vici Properties has agreed to acquire the remaining 49.9% interest in the joint venture that owns MGM Grand Las Vegas and Mandalay Bay Resort.

Vici currently holds a 50.1% majority interest in the venture and will purchase the 49.9% stake from JV partner Blackstone Real Estate Income Trust (BREIT) for approximately $1.27bn in cash.

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