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MGM Resorts International has announced the completion of the redemption of approximately 37.1 million of its operating partnership units of MGM Growth Properties Operating Partnership LP for aggregate cash proceeds of approximately US$1.2 billion. Following the redemption, MGM Resorts' ownership in the Operating Partnership was reduced from 53.0 percent to 42.1 percent.
Analysts at Bernstein are expecting a slow recovery of the in-person meetings and events industry, with visitation levels from this subset to return at 2023 at the earliest.