And the 7.5 million transition to become Park MGM and NoMad was paid for by MGM’s real estate investment trust. (Image: MGM Resorts)MGP is paying MGM Resorts 7.5 million for investments the latter made to renovate the Monte Carlo into its present incarnation.
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is bellagio casino openThe Monte Carlo is no more. MGM Growth Properties (MGP), the casino operator’s real estate investment trust (REIT), announced this week that it’s paying for the Monte Carlo transformation to split the Strip resort into Park MGM and NoMad Las Vegas. The district is also home to T-Mobile Arena, which MGM has a 50 percent ownership stake in, and the Park Theater.REIT DeetsReal estate investment trusts are companies that own income-producing real estate. Valley forge casino floodingMGM has created The Park neighborhood consisting of the namesake resort and New York-New York casino.
