On the Strip, VICI will control more than 660 acres covering a dozen properties that include nearly 40,000 hotel rooms and 6 million square feet of convention and meeting space. The seven properties being acquired by VICI are The Mirage, New York-New York, MGM Grand Las Vegas, Mandalay Bay, Excalibur, Luxor, Park MGM and The Park Las Vegas, which includes the land under the T-Mobile Arena. The purchase is expected to close in the first half of 2022 and solidifies VICI’s status as the gaming industry’s largest REIT with the eventual ownership of 43 properties in 15 states. All of MGM Growth’s properties are operated by MGM Resorts International. VICI announced Wednesday a $17.2 billion deal to buy out rival gaming REIT MGM Growth Properties, which owns the real estate of 15 casinos and resorts in eight states, including seven properties on the Strip. Five months after agreeing to purchase the Strip properties owned by Las Vegas Sands, New York City-based real estate investment trust (REIT) VICI Properties said it was acquiring an even larger chunk of the Strip, becoming the resort corridor’s largest landowner.

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