secwatch.observer — SEC 8-K summary
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Issuer:     MGM Resorts International (MGM)
CIK:        0000789570
Form:       8-K
Filed at:   2022-12-19T23:59:59+00:00
Accession:  0001193125-22-308342
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MGM completes sale of Mirage to Hard Rock for $1.075B; annual lease rent reduced by $90M
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- Sold all equity interests of The Mirage Casino-Hotel to HR Nevada, LLC (Hard Rock) for $1.075B in cash, subject to customary adjustments.
- Amended master lease with VICI Properties to remove Mirage; annual rent reduced from $860M to $770M.
- Transaction closed on December 19, 2022; Mirage becomes indirect subsidiary of Seminole Hard Rock International.
- MGM's lease obligations reduced by $90M per year; remaining lease covers 13 facilities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/789570/000119312522308342/0001193125-22-308342-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/789570/000119312522308342/d424358d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-308342

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