Item 1.01 Entry into a Material Definitive Agreement.
On October 29, 2021, MGP Lessor, LLC (the "Landlord"), a Delaware limited
liability company and a subsidiary of MGM Growth Properties LLC, entered into a
Seventh Amendment (the "Amendment") to the Master Lease Agreement, dated as of
April 25, 2016 between the Landlord and MGM Lessee, LLC, a Delaware limited
liability company and a subsidiary of MGM Resorts International (as amended, the
"Master Lease"), in connection with the acquisition by Landlord of the real
estate assets of MGM Springfield in Springfield, Massachusetts. The Amendment
provides that, among other things, the Rent (as defined in the Master Lease)
under the Master Lease will be increased by $30 million, 90% of which is
allocated to the Base Rent (as defined in the Master Lease) and 10% of which is
allocated to the Percentage Rent (as defined in the Master Lease). This
description of the Amendment is qualified in its entirety by reference to the
full text of the Amendment attached hereto as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits:
Exhibit No. Description
10.1 Seventh Amendment to Master Lease Agreement, dated as of
October 29, 2021, between MGP Lessor, LLC and MGM Lessee, LLC
(incorporated by reference to Exhibit 10.1 of the Current Report
on Form 8-K of MGM Resorts International filed on October 29,
2021).
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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