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MGM Growth completes $1.2B MGM National Harbor casino resort acquisition

MGM Growth Properties completed its $1.19 billion acquisition of the leasehold interest and real estate of the MGM National Harbor casino resort in Maryland from MGM Resorts International.

MGM Resorts continues as the property's operator. In connection with the transaction, MGM Growth's operating partnership issued 9,771,987 operating partnership units, assumed $425 million of debt and paid $462.5 million in cash to an MGM Resorts subsidiary.