MGM Grand Detroit LLC Approved to Participate in Real Estate Investment Trust

MGM Resort International, the operator of MGM Grand Detroit has been granted an approval to go on with it’s proposal to restructure and move certain real properties into a Real Estate Investment Trust.mgm grand detroit

The approval means MGM through it’s subsidiaries, the Real Estate Investment Trust (REIT) will hold the real property currently occupied by the 10 MGM properties which include MGM Grand Detroit.

it also means MGM will have to manage the REIT as a publicly traded company. After an initial public offering of REIT MGM will then continue to control it by holding the majority of the voting power of it’s shares.

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