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MGM will use proceeds from the deal to invest in its “core business,” President and CEO Bill Hornbuckle said in an earnings call Monday, adding the company would also “continue to seek meaningful growth opportunities.” Operations at MGM Resorts-run properties now owned by Vici “will continue as before for guests and employees,” MGM spokesman Brian Ahern told the Review-Journal. The company also is now “the largest owner of hotel and conference real estate in America,” CEO Ed Pitoniak said. Still, it easily ranks among the largest real estate sales the Strip has ever seen and significantly expands Vici’s holdings in the famed casino corridor, making the New York company one of the biggest property owners on Las Vegas Boulevard. The buyout likely won’t result in noticeable changes at the resorts anytime soon, as Vici does not operate the properties but rather collects rent from the companies that do.
