MGM Resorts International And MGM Growth Properties LLC Announce Transactions To Acquire Borgata Hotel

Quote:

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LAS VEGAS, May 31, 2016 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) and MGM Growth Properties LLC (NYSE: MGP) today announced that MGM Resorts has entered into a definitive agreement to acquire Boyd Gaming Corporation's ("Boyd Gaming") (NYSE:BYD) 50 percent interest in Borgata Hotel Casino & Spa ("Borgata") in Atlantic City, New Jersey for consideration of $900 million. Further, MGM Resorts and MGP have entered into a definitive agreement whereby, following the completion of the acquisition of Boyd Gaming's interest, MGP will acquire Borgata's real property from MGM Resorts and lease back the real property to a subsidiary of MGM Resorts, after which a subsidiary of MGM Resorts will operate Borgata (together, the "Transactions").

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http://mgmresorts.investorroom.com/2...tel-Casino-Spa

god I hope they don't fuck that place up...it is literally the only place in atlantic city worth gambling and playing poker at...

Will they be joining MLife?

I am assuming yes.

what does joining mlife mean? Does that mean totally new players cards? If so will existing comps be honored?

Looks as if Borgata is migrating into the MLife program (the MGM comp system).

I'll assume comps from the previous regime will be honored....but as for future years the comp system is always subject to change via casino policy.

https://www.theborgata.com/casino/my...label-trade-up

Another interesting angle to this, from OPR Report:

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MGM looking to get into online gambling/poker game methinks