Sale-leasebacks like MGM´s Bellagio deal may pick up steam
Thursday 14 de November 2019 / 03:31
⏱ 2 min read
(Las Vegas).- The $4.2 billion sale-leaseback agreement announced last month seemed to positive news for not only MGM Resorts International and The Blackstone Group, but those outside the deal as well.
On a call with investors Wednesday, Eldorado Resorts CEO Thomas Reeg said the company was happy to see what MGM was able to do with the Bellagio real estate. “We’re even happier that there’s new capital in the real estate investment arena that’scoming into the space,” Reed said. “We think that that’s the tip of the iceberg.”
The sale agreement is thought by many to help increase the value of gaming real estate all across the Strip. The deal appearsto have broken the record as the most expensive sale of a Las Vegas resort, selling for 17 times the annual rent of the $245 million. In comparison, MGM completed a sale-leaseback of Park MGM and NoMad Las Vegas with MGM Growth last year for just under 13 times the property’s annual rent.
“We think that the value of Vegas real estate is going to continue to climb as you have more capital that becomes interested inmaking those types of investments,” Reeg said. “But both the Bellagio trade and the Circus Circus trade were spectaculartrades from our standpoint.”
By the numbers
$22 billion: Value of REIT transactions since gaming real estate investment trusts were created in 2012.
35 percent: Percentage of gross gaming revenue in the U.S. those deals account for, leaving room for more sale-leaseback deals.
4: REITs operating in the gaming space: The Blackstone Group, MGM Growth Properties, VICI and Gaming & Leisure Properties.
90: Properties those four companies are set to have in their portfolios by next year
$3 billion: Revenue those companies are expected to generate by next year
Categoría:Casino
Tags: Sin tags
País: United States
Event
SBC Summit Americas 2026
09 de June 2026
Belatra Games Highlights Networking Value at SBC Summit Americas 2026
(Fort Lauderdale, SoloAzar Exclusive).- Lucila M. Barletta, Head of Accounts LatAm at Belatra Games, shared her insights on the company’s participation at SBC Summit Americas. From strengthening partnerships to exploring new opportunities, she emphasized the importance of both large industry events and smaller networking experiences in driving meaningful business growth.
Friday 03 Jul 2026 / 12:00
Zenith Strengthens LATAM Presence at SBC Summit Americas
(Fort Lauderdale, SoloAzar Exclusive).- In conversation with SoloAzar, Eddie Morales, Zenith's Business Development Manager, shared the company’s objectives at SBC Summit Americas, the opportunities generated, and the outlook on the future of the gaming industry in Latin America.
Friday 03 Jul 2026 / 12:00
LSports LATAM Secures Major Partnerships at SBC Summit Americas 2026
(Fort Lauderdale, SoloAzar Exclusive).- In Q&A after SBC Summit Americas 2026, Fernando Martinez, representative of LSports LATAM, talked about the company’s goals, achievements, and future plans in the region. Martinez shares insights on the evolving dynamics of the Latin American market, the importance of strategic partnerships, and how LSports is positioning itself as a leading data and trading services provider.
Wednesday 01 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
