LAS VEGAS, March 15, 2022 /PRNewswire/ -- MGM Growth
Properties LLC ("MGP") (NYSE:MGP) today announced that its board of
directors declared a quarterly cash dividend of $0.53 per Class A common share for the first
quarter. On an annualized basis, the dividend of $2.12 represents an increase of $0.02 per share. This is the 16th dividend
increase since MGP's initial public offering in April 2016. The dividend will be payable on
April 14, 2022 to shareholders of
record as of the close of business on March
31, 2022.
About MGM Growth Properties LLC
MGM Growth Properties LLC (NYSE:MGP) is one of the leading
publicly traded real estate investment trusts engaged in the
acquisition, ownership and leasing of large-scale destination
entertainment and leisure resorts, whose diverse amenities include
casino gaming, hotel, convention, dining, entertainment and retail
offerings. MGP, together with its joint venture, currently owns a
portfolio of properties, consisting of 13 premier destination
resorts in Las Vegas and elsewhere
across the United States, MGM
Northfield Park in Northfield, OH,
Empire Resort Casino in Yonkers,
NY, as well as a retail and entertainment district, The Park
in Las Vegas. As of December 31, 2021, MGP's portfolio of destination
resorts, the Park, Empire Resort Casino, and MGM Northfield Park
collectively comprised approximately 32,700 hotel rooms, 1.7
million casino square footage, and 3.6 million convention square
footage. As a growth-oriented public real estate entity, MGP
expects its relationship with MGM Resorts and other entertainment
providers to attractively position MGP for the acquisition of
additional properties across the entertainment, hospitality and
leisure industries. For more information about MGP, visit the
Company's website at http://www.mgmgrowthproperties.com.
Forward-Looking Statements
This press release includes "forward-looking" statements and
"safe harbor statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 that involve risks and/or
uncertainties, including those described in MGP's public filings
with the Securities and Exchange Commission. MGP has based
forward-looking statements on management's current expectations and
assumptions and not on historical facts. These forward-looking
statements involve a number of risks and uncertainties. Among the
important factors that could cause actual results to differ
materially from those indicated in such forward-looking statements
include risks related to MGP's ability to receive, or delays in
obtaining, any regulatory approvals required to own its properties,
or other delays or impediments to completing MGP's planned
acquisitions or projects, including any acquisitions of properties
from MGM; the ultimate timing and outcome of any planned
acquisitions or projects; MGP's ability to maintain its status as a
REIT; the availability of and the ability to identify suitable and
attractive acquisition and development opportunities and the
ability to acquire and lease those properties on favorable terms;
MGP's ability to access capital through debt and equity markets in
amounts and at rates and costs acceptable to MGP; changes in the
U.S. tax law and other state, federal or local laws, whether or not
specific to REITs or to the gaming or lodging industries; and other
factors described in MGP's periodic reports filed with the
Securities and Exchange Commission. In providing forward-looking
statements, MGP is not undertaking any duty or obligation to update
these statements publicly as a result of new information, future
events or otherwise, except as required by law. If MGP updates one
or more forward-looking statements, no inference should be drawn
that it will make additional updates with respect to those other
forward-looking statements.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/mgm-growth-properties-increases-quarterly-dividend-to-an-annualized-rate-of-2-12-per-share-301502291.html
SOURCE MGM Growth Properties LLC
