MGM Resorts-backed REIT MGM Growth Properties files for an estimated $1 billion IPO
MGM Growth Properties, an MGM Resorts-backed REIT with an initial portfolio of 10 gaming properties, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $1 billion.
The Las Vegas, NV-based company was formed in 2015. It plans to list on the NYSE under the symbol MGP. MGM Growth Properties filed confidentially on October 29, 2015. BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, Evercore ISI, Barclays, Citi and Deutsche Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
Actually, the current guys running this company would probably take all the proceeds for themselves, leaving the shareholders high and dry; as opposed to being hosed like they currently are.
Under the current guys running this company this stock is doomed.
Longs would be better off having this company close all it's doors and liquidating and selling off the real-estate.
The sold the mall for over a billion dollars and the stock now lost money from that thus a reit isn't going to do squat.
This stock is a donkey and I can so as Im long this donkey.
This is NOT a strong buy, this a a great short and in the next few years it will be ok.
On what planet is this a super buy?
Im long it but this is by all means a super short boy. Have you been paying attention at all?
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get your calls for next week before they take all for themselves
Yes, spaces will be difficult to get like in downtown NY, SF, LA, etc., but well worth circling round and round until you see a car backing out of a space. Will be just like Diane Keaton in "Annie Hall" when she slammed on the brakes of the VW convertible when she saw that parking space and, "Oh My God a parking space."
99 cent shrimp cocktails, $4.95 buffets, hot nickel slots with coins and free parking were some of the little pleasures that made Vegas great.
I have been asking for asset sale for 3 years.. what was sold circus in reno ........time to act no more we are selling soon....wynn up lvs up mgm down why management...