VICI to Acquire Blackstone’s Interest in MGM Grand Las Vegas and Mandalay Bay Joint Venture

NEW YORK—Blackstone Real Estate Income Trust, Inc. (BREIT) and VICI Properties Inc. announced jointly that they have entered into a definitive agreement in which VICI, currently the owner of a 50.1 percent interest in the joint venture that owns MGM Grand Las Vegas and Mandalay Bay Resort, will acquire BREIT’s 49.9 percent interest in the joint venture for cash consideration of approximately $1.27 billion and VICI’s assumption of BREIT’s pro-rata share of the existing property-level […]

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