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MGM Growth Properties eyes $1.2B IPO

The Wall Street Journal reports that MGM Growth Properties has priced the initial public offering for the REIT created by MGM Resorts International at $18 to $21 a share, for a potential capital raise of $1.2 billion. The REIT, which will initially hold nine casinos, plans to sell 50 million Class A shares, plus 7.5 million shares in an over-allotment option.

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