MGM Growth Properties LLC (MGP) has announced a quarterly cash dividend of US$0.42 per share for the first quarter.
The firm said in a press release issued on Thursday that the dividend will be payable on April 13 “to unit holders and shareholders of record as of the close of business on March 30, 2018”.
MGP is a publicly-traded real estate investment trust (REIT) of which U.S.-based casino operator MGM Resorts International is the majority owner. The former owns several real estate assets in the U.S., including the iconic casino hotel properties Mandalay Bay, and the Mirage, in Las Vegas. MGM Resorts is the parent company of Macau casino operator MGM China Holdings Ltd.
In January, MGP had offered to purchase the REIT known as Vici Properties Inc that manages several properties operated by another U.S. casino firm, Caesars Entertainment Corp. But the board of Vici “unanimously” rejected the proposal.
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”The resumption [of mainland package tours] is definitely good news: recovering foot traffic for casinos [in Macau] is really important and their comeback will help with that”
Hoffman Ma Ho Man
Deputy chairman of Success Universe Group, promoter of casino-hotel Ponte 16