Profile: MGM Growth Properties LLC (MGP)
24 Jun 2019
MGM Growth Properties LLC, incorporated on October 23, 2015, is a real estate investment trust (REIT) engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts, whose amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. As of July 6, 2010, the Company's portfolio consisted of 11 destination resorts operated by MGM. The Company has over six entertainment and gaming-related properties located on the Las Vegas Strip, including Mandalay Bay, The Mirage, Monte Carlo, New York-New York, Luxor and Excalibur, and The Park, a dining and entertainment complex located between New York-New York and Monte Carlo. Outside of Las Vegas, it owns over four casino resort properties, including MGM Grand Detroit in Detroit, Michigan, Borgata Hotel Casino & Spa in Atlantic City, New Jersey, and Beau Rivage and Gold Strike Tunica, both of which are located in Mississippi. The Company operates approximately 27,500 hotel rooms, over 200 restaurants, approximately 100 retail outlets and over 20 entertainment venues. The Company's convention square footage is approximately 2.6 million and casino square footage is over 1.0 million.
MGM Resorts International (MGM) acts as a holding company and, through its subsidiaries, owns and operates destination entertainment and leisure resorts. It has an ownership or operating interests in a portfolio of casino resorts with approximately 50,000 hotel rooms, over 25,000 slot machines and approximately 1,800 table games on a combined basis, including its properties, MGM Macau and MGM's unconsolidated affiliates. The Company conducts its operations through MGM Growth Properties Operating Partnership LP (the Operating Partnership).
Mandalay Bay is a Four Diamond resort offering approximately 2.1 million total square feet of meeting and convention space, various restaurants, multiple entertainment venues, and a pool and spa. The Mandalay Bay resort complex also includes a Four Seasons Hotel with its own lobby, restaurants and pool and spa, which provides visitors with a hospitality experience, and The Delano, an all-suite hotel tower with its own spa and fitness center, a lounge and two restaurants. The Mirage, a Four Diamond resort, is a tropically themed hotel and casino resort located at the center of the Strip. The property features an array of restaurants, entertainment and nightlife options, various retail shopping outlets and approximately 170,000 square feet of meeting and convention space, including the 90,000-square foot Mirage Events Center.
New York-New York Hotel and Casino is located at the corner of the Strip and Tropicana Avenue with pedestrian bridges linking the property to both MGM Grand Las Vegas and Excalibur. The property features various restaurants, bars and lounges, varying entertainment options, and a spa and salon. New York-New York also offers approximately 25,000 square feet of meeting and convention space. Luxor is a 4,400 room pyramid-shaped hotel and casino resort situated at the south end of the Strip between Mandalay Bay and Excalibur. Luxor offers approximately 20,000 square feet of meeting and convention space, a spa and salon, and food and entertainment venues on three different levels beneath a soaring hotel atrium.
Monte Carlo is located on the Strip adjacent to New York-New York. The property features approximately 30,000 square feet of meeting and convention space, a spa and salon, and a range of restaurant and entertainment options. Excalibur is a castle-themed hotel and casino complex situated north of Luxor at the corner of the Strip and Tropicana Avenue, featuring approximately 30,000 square feet of meeting and convention facilities, a spa and fitness facility, various restaurants and bars, and varying entertainment options. Excalibur, Luxor and Mandalay Bay are connected by a tram, allowing guests to travel from resort to resort. The Park is an outdoor destination with an array of common spaces, and casual restaurants and bars. The Park spans approximately three acres located between New York-New York and Monte Carlo, connecting the two properties to a 20,000-seat arena.
MGM Grand Detroit is a Four Diamond resort in Detroit, Michigan. The resort features over two restaurants by Wolfgang Puck, TAP sports pub. Its amenities include a private entrance and lobby for hotel guests and approximately 30,000 square feet of meeting and convention space. Beau Rivage includes amenities with southern hospitality and features guest rooms and suites, various restaurants, nightclubs and bars, a 1,550-seat theatre, an upscale shopping promenade, and a spa and salon. The resort also has over 50,000 square feet of meeting and convention space. Gold Strike Tunica is a dockside casino located along the Mississippi River, approximately 20 miles south of Memphis and over three miles west of Mississippi State Highway 61. The property features an 800-seat showroom, various food and beverage offerings and approximately 17,000 square feet of meeting space.
MGM Growth Properties LLC
1980 Festival Plaza Dr Ste 750
LAS VEGAS NV 89135-2958