Investment Summary

MGM Resorts and MGM Growth Properties Invest In Marina District Development

On May 31, 2016, MGM Resorts and MGM Growth Properties invested in leisure company Marina District Development from Boyd Gaming

Investment Highlights
  • This is MGM Resorts’ 2nd and MGM Growth Properties’ 1st transaction in the Leisure sector.
  • This is MGM Resorts’ 2nd and MGM Growth Properties’ 1st transaction in the United States.
  • This is MGM Resorts’ 1st and MGM Growth Properties’ 1st transaction in New Jersey.

Investment Summary

Date 2016-05-31
Target Marina District Development
Sector Leisure
Investor(s) MGM Resorts
MGM Growth Properties
Sellers(s) Boyd Gaming
Deal Type Stake Purchase

Target

Marina District Development

Atlantic City, New Jersey, United States
Marina District Development Co. LLC ( Borgata Hotel Casino & Spa) is an owns and operator of casino and spa.

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Investor(S) 2

Investor

MGM Resorts

Las Vegas, Nevada, United States

Category Company
Founded 1986
Sector Leisure
Employees58,000
Revenue 16.2B USD (2023)
DESCRIPTION

MGM Resorts owns and/or operates casino resorts. The company operates in two segments, Wholly Owned Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. MGM Resorts was founded in 1986 and is based in Las Vegas, Nevada.


DEAL STATS #
Overall 2 of 4
Sector (Leisure) 2 of 2
Type (Stake Purchase) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 2 of 3
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-25 Mandalay Resort Group

Las Vegas, Nevada, United States

MGM Resorts International. Mandalay Resort Group operates hotel and casino facilities in the United States.

Buy $7.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-02 LeoVegas

Stockholm, Sweden

LeoVegas is a global online gaming company with licenses in eight jurisdictions primarily in the Nordics and the rest of Europe. LeoVegas was founded in 2010 and is based in Stockholm, Sweden.

Buy $607M
Investor

MGM Growth Properties

Las Vegas, Nevada, United States

Category Company
Sector Real Estate
Revenue 793M USD (2020)
DESCRIPTION

MGM Growth Properties is a real estate investment trust engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. MGP, together with its joint venture, currently owns a portfolio of properties, consisting of 12 premier destination resorts in Las Vegas and elsewhere across the United States, MGM Northfield Park in Northfield, OH, Empire Resort Casino in Yonkers, NY, as well as a retail and entertainment district, The Park in Las Vegas. MGM Growth Properties is based in Las Vegas, Nevada.


DEAL STATS #
Overall 1 of 1
Sector (Leisure) 1 of 1
Type (Stake Purchase) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1

Seller(S) 1

SELLER

Boyd Gaming

Las Vegas, Nevada, United States

Category Company
Founded 1975
Sector Gaming
Employees16,129
Revenue 3.7B USD (2023)
DESCRIPTION
Boyd Gaming's corporate headquarters in Las Vegas, Nevada.
Boyd Gaming's corporate headquarters in Las Vegas, Nevada.

Boyd Gaming is a casino entertainment company. Boyd Gaming was incorporated in 1975 and is based in Las Vegas, Nevada.


DEAL STATS #
Overall 1 of 1
Sector (Leisure) 1 of 1
Type (Stake Purchase) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-25 Cannery Casino Resorts - Las Vegas Assets

Las Vegas, Nevada, United States

Cannery Casino Resorts - Las Vegas Assets located in North Las Vegas, and Eastside Cannery Casino and Hotel, located adjacent to Sam's Town Hotel & Gambling Hall on Boulder Highway in the eastern part of the Las Vegas Valley. Casino features an 80,000-square-foot casino, a 200-room hotel, five restaurants and five bars, a 30,000-square-foot entertainment venue, and a 14-screen movie theater. Eastside Cannery has a 64,000-square-foot casino, more than 300 hotel rooms, five restaurants and four bars, 20,000 square feet of meeting and ballroom space, and a 250-seat entertainment lounge.

Buy $230M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-03 Lattner Entertainment Group Illinois

Ottawa, Illinois, United States

Lattner Entertainment Group Illinois LLC is a distributor gaming operator with nearly 1,000 gaming units in more than 200 locations across the state of Illinois.

Buy -