The buyout will help MGM Resorts in terms of revenue and profit growth. Markedly, Rocksino has proven leadership in the gaming industry. Rocksino - the best-in-class gaming and entertainment destination - and MGM Resorts’ global brand portfolio will provide a boost to MGM Resorts performance. Further, annual rent payment to MGP will increase by $60 million, 90% of which will be fixed and contractually increase 2% per year until 2022. Rocksino will be included in the existing master lease between MGM Resorts and MGP.
MGM Resorts also announced that it has rebranded Hard Rock Rocksino Northfield Park as MGM Northfield Park. Located in Northfield, OH, Rocksino offers gaming, dining and entertainment facilities, and spreads across roughly 110 acres. MGM Resorts will also lease the real property connected with Rocksino from a subsidiary of MGP. MGM Resorts International MGM has completed the acquisition of Hard Rock Rocksino Northfield Park’s operating assets from MGM Growth Properties LLC (MGP).
