support.doubledown casinoOperator MGM Resorts said it redeemed more shares of REIT MGM Growth. Operator MGM Resorts said it redeemed more shares of REIT MGM Growth. (Image: Pinterest)The Mandalay Bay operator made the announcement after the close of US markets Wednesday, noting it plans to use the 0 million influx of capital “for general corporate purposes.” The REIT and the gaming company had a previous deal in place in which the latter could redeem .4 billion of the equity it owns in the former. online casino quick hit slotsEight said the casino should be located downtown or near downtown. Another notable RFI submission came from MGM Growth Properties, the real estate investment trust of MGM Resorts.Casino’s Wishlist Before Chicago issues its formal Request fCasinos want the Chicago casino resort to be built in a popular downtown area, one possibility being near Millennium Park. black bear casino news

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river spirit casino weddingMGP funded the transaction with proceeds in an 0 million June debt sale.With the .4 billion agreement complete, MGM’s interest in the real estate company falls to 53 percent from 56.7 percent following the May 0 million sale.That’s actually a positive for MGP. Broadly speaking, Wall Street likes the REIT. The Mirage on the Las Vegas Strip. river spirit casino 4th of july(Image: TripAdvisor)In September, the City of Chicago sent out a Request for Information (RFI) regarding its IR project to casino operators. Three of the world’s largest casino operators — MGM Resorts, Wynn Resorts, and Hard Rock International — as well as several other gaming companies are telling officials in Chicago that its forthcoming integrated resort (IR) should be located in or near downtown. By virtue of its relationship with MGM, the REIT is levered to trends in Las Vegas, where it owns the real estate of all MGM-operated venues aside from Bellagio.Other Ways to Raise Cash, if NeededShould MGM need to raise more capital, it has other avenues in addition to its remaining 53 percelive casino table minimumsnt interest in MGP.The Excalibur operator owns all assets associated with MGM Springfield in Massachusetts, half of CityCenter in Las Vegas, and 56 percent of MGM China. fanduel casino reddit

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online gambling licenseThe first 0 million tranche on that agreement was executed in May.Today’s announcement reflects our continued focus on enhancing our balance sheet to strengthen our financial flexibility,” said MGM CEO Bill Hornbuckle in a statement.With the second 0 million divestment of MGP equity in the books, MGM Resorts has .9 billion worth of liquidity, giving it one oflive casino table minimums the industry’s tidiest balance sheets and likely the company’s strongest financial positions in decades.Good News for the REIT, TooWhile the benefits for MGM in the transaction are obvious – it’s raising cash at a time when the industry continues grappling with COVID-19 – MGP isn’t being left out in the cold.The transaction will allows the casino landlord to boost its acquired funds from operations (AFFO), a critical metric in valuing REITs, on a single-digit basis. But some analysts and investors speculate the company could be better off with more independence and less oversight from MGM.The Mirage operator is MGP’s only tenant, while rival gaming REITs have multiple clients, giving those competitors more rental income diversification. Bellagio and the Bay State venue are the only real estate pieces in MGM’s domestic portfolio not owned by MGP.As for the REIT, it remains to be seen what its next corporate move is. gaming and Landry’s restaurant businesses.Those discussions are in the early innings, and it’s not immediately clear if Fertitta goes the blank-check route with that deal. But some analysts and investors speculate the company could be better off with more independence and less oversight from MGM.The Mirage operator is MGP’s only tenant, while rival gaming REITs have multiple clients, giving those competitors more rental income diversification. Bellagio and the Bay State venue are the only real estate pieces in MGM’s domestic portfolio not owned by MGP.As for the REIT, it remains to be seen what its next corporate move is. black bear casino buffet coupons