MGM Growth Properties Is A Buy Because MGM Is Flush With Cash [Seeking Alpha]
Gaming and Leisure Properties, Inc. (GLPI)
Last gaming and leisure properties, inc. earnings: 4/30 04:15 pm
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Source: Seeking Alpha
SummaryMGP owns the high-quality MGM casino real estate including a joint venture in Mandalay Bay.Its tenant, MGM, owns a majority stake in the company which may create a conflict of interest.MGM is flush with cash and appears to have plenty of liquidity to navigate this crisis.MGP is my only buy in the casino REIT universe.MGM Growth Properties (NYSE:My Only Casino REIT BuyMGP owns the underlying real estate of MGM, which includes trophy assets such as Mandalay Bay Las Vegas:2020 PresentationTo be clear, MGP owns 50.1% of Mandalay Bay and MGM Grand, as it purchased the assets for $4.6 billion in a joint venture with Blackstone . Along with that transaction, MGP agreed to buy out up to $1.4 billion of MGM's OP units in MGP (more on this below):(2020 Presentation)MGP has been diversifying outside of Las Vegas, though I emphasize that MGM remains its primary tenant:Tenant concentration risk is clearly an issue here, but the silver lining is that it makes tenant analysis very easy. MGM c
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GLPI
News
- Gaming and Leisure Properties Provides Updates on $1.5 Billion Financing Commitments [Yahoo! Finance]Yahoo! Finance
- Gaming and Leisure Properties Provides Updates on Recent Financing and Development ActivitiesGlobeNewswire
- Gaming and Leisure Properties (NASDAQ:GLPI) had its "overweight" rating reaffirmed by analysts at Barclays PLC.MarketBeat
- Gaming and Leisure Properties, Inc. Declares Fourth Quarter 2025 Cash Dividend of $0.78 Per ShareGlobeNewswire
- Why Bally's (BALY) Stock Is Trading Up Today [Yahoo! Finance]Yahoo! Finance
GLPI
Earnings
- 10/30/25 - Beat
GLPI
Sec Filings
- 11/5/25 - Form 4
- 11/4/25 - Form 144
- 11/3/25 - Form 144
- GLPI's page on the SEC website