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MGM Real Estate Investment Trust Offers Merger With Caesars Real Estate Investment Trust

A real estate investment trust controlled by MGM Resorts called MGM Growth Properties has offered to purchase the investment trust that covers a large chunk of properties operated by Caesars Entertainment.

The proposed buyout offers $19.50 a share for all outstanding shares of VICI Properties.

VICI was formed as part of Caesars Entertainment’s bankruptcy reorganization and includes properties such as Caesars Palace and Harrahs.

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In a statement, MGM said the combination of VICI and MGP would create one of the largest triple net lease real estate investment trusts.