Item 1.01 Entry into a Material Definitive Agreement.
On October 29, 2021, MGM Lessee, LLC (the "Tenant"), a Delaware limited
liability company and a subsidiary of MGM Resorts International (the "Company"),
entered into a Seventh Amendment (the "Amendment") to the Master Lease
Agreement, dated as of April 25, 2016, between the Tenant and MGP Lessor, LLC, a
Delaware limited liability company (the "Landlord") and a subsidiary of MGM
Growth Properties LLC (as amended, the "Master Lease"), in connection with
Landlord's acquisition 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
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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