LAS VEGAS—MGM Resorts International said todaythat it will create a controlled real estate investment trust, tobe named MGM Growth Properties LLC.

MGM Resorts will contribute the real estate associated with tenof its premier properties and MGM Growth Properties (MGP) willassume approximately $4 billion of debt, which isexpected to be refinanced with the proceeds of debt and equityissuances. MGM Resorts also announced that it submitted a draftregistration statement on Form S-11 to theSEC relating to MGP's proposed initial publicoffering.

The company says the new structure will allow more strategicflexibility that could improve returns.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.