Sold to a Blackstone REIT. Similar to what is happening with VICI and CET. Monetize the real estate to create cash for the casino operator. Since MGM will still operate the casino and pay rent...
Type: Posts; User: Penguin
Sold to a Blackstone REIT. Similar to what is happening with VICI and CET. Monetize the real estate to create cash for the casino operator. Since MGM will still operate the casino and pay rent...
What might change is that Blackstone will want cash for rent and MGM cash from casino operations. No book entries creating non-cash profits. Really can't see Blackstone jumping in for just normal...
Heard about this the other day. Blackstone is a very sharp asset manager. They make money!! Somehow I think in the end those 2 properties will have to generate more cash to satisfy 2 entities. ...