Quote of the Day

“The company could keep the asset on the books indefinitely without risking its REIT status. In addition, we believe MGM could serve as a backstop buyer if no one else is willing to pay a fair price. While regional casinos aren’t among MGM’s strategic priorities, MGM does own around 73 percent of MGP and has a significant economic interest in the deal being successful. If MGM did step in as the OpCo buyer, we believe the deal would be accretive and strategically beneficial, giving MGM access to a new and attractive presence in Cleveland.” — Union Gaming Group analyst John DeCree on MGM Growth Properties‘ purchase of Hard Rock Rocksino in Ohio.