MGM Growth Properties Operating Partnership (MGP) 10-Q 8 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 01, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	MGP
Entity Registrant Name	MGM Growth Properties LLC
Entity Central Index Key	1,656,936
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Class A Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		57,662,330
Class B Share
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1
MGP Operating Partnership
Document Information [Line Items]
Entity Registrant Name	MGM Growth Properties Operating Partnership LP
Entity Central Index Key	1,691,299
Entity Filer Category	Non-accelerated Filer

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Real estate investments, net	$ 9,019,620	$ 9,079,678
Cash and cash equivalents	368,298	360,492
Tenant and other receivables, net	4,612	9,503
Prepaid expenses and other assets	11,154	10,906
Above market lease, asset	45,768	46,161
Total assets	9,449,452	9,506,740
Liabilities
Debt, net	3,606,973	3,621,942
Due to MGM Resorts International and affiliates	816	166
Accounts payable, accrued expenses and other liabilities	4,829	10,478
Above market lease, liability	47,735	47,957
Accrued interest	27,018	26,137
Dividend payable	94,109	94,109
Deferred revenue	80,567	72,322
Deferred income taxes, net	25,368	25,368
Total liabilities	3,887,415	3,898,479
Commitments and contingencies (Note 12)
Partners' capital
General partner	0	0
Limited partners: 242,862,136 Operating Partnership units issued and outstanding as of March 31, 2017 and December 31, 2016	5,562,037	5,608,261
Total partners' capital	5,562,037	5,608,261
Shareholders’ equity
Additional paid-in capital	1,363,270	1,363,130
Accumulated deficit	(40,692)	(29,758)
Accumulated other comprehensive income	295	445
Noncontrolling interest	4,239,164	4,274,444
Total shareholders’ equity	5,562,037	5,608,261
Total liabilities and shareholders’ equity	9,449,452	9,506,740
Class A Shares
Shareholders’ equity
Class A shares: no par value, 1,000,000,000 shares authorized, 57,500,000 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively	0	0
Total Class A shareholders’ equity	1,322,873	1,333,817
MGP Operating Partnership
ASSETS
Real estate investments, net	9,019,620	9,079,678
Cash and cash equivalents	368,298	360,492
Tenant and other receivables, net	4,612	9,503
Prepaid expenses and other assets	11,154	10,906
Above market lease, asset	45,768	46,161
Total assets	9,449,452	9,506,740
Liabilities
Debt, net	3,606,973	3,621,942
Due to MGM Resorts International and affiliates	816	166
Accounts payable, accrued expenses and other liabilities	4,829	10,478
Above market lease, liability	47,735	47,957
Accrued interest	27,018	26,137
Dividend payable	94,109	94,109
Deferred revenue	80,567	72,322
Deferred income taxes, net	25,368	25,368
Total liabilities	3,887,415	3,898,479
Commitments and contingencies (Note 12)
Partners' capital
General partner	0	0
Limited partners: 242,862,136 Operating Partnership units issued and outstanding as of March 31, 2017 and December 31, 2016	5,562,037	5,608,261
Total partners' capital	5,562,037	5,608,261
Shareholders’ equity
Total liabilities and shareholders’ equity	$ 9,449,452	$ 9,506,740

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Class A Shares
Common stock shares, par value	$ 0	$ 0
Common stock shares, authorized	1,000,000,000	1,000,000,000
Common stock shares, issued	57,500,000	57,500,000
Common stock shares, outstanding	57,500,000	57,500,000
MGP Operating Partnership
Partners' capital, units issued	242,862,136	242,862,136
Partners' capital, units outstanding	242,862,136	242,862,136

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues
Rental revenue	$ 163,177	$ 0
Tenant reimbursements and other	20,722	0
Revenues, net	183,899	0
Expenses
Depreciation	61,684	51,476
Property transactions, net	6,855	874
Property taxes	20,487	13,236
Property insurance	0	2,384
Amortization of above market lease, net	171	0
General and administrative	2,680	0
Expenses, net	91,877	67,970
Operating income (loss)	92,022	(67,970)
Non-operating income (expense)
Interest income	678	0
Interest expense	(44,636)	0
Other non-operating	(134)	0
Non-operating income (expense)	(44,092)	0
Income (loss) before income taxes	47,930	(67,970)
Provision for income taxes	(1,238)	0
Net income (loss)	46,692	(67,970)
Less: Net (income) loss attributable to noncontrolling interest	$ (35,344)	67,970
Weighted average Class A shares outstanding:
Basic (in shares)	57,506,195
Diluted (in shares)	57,784,240
Dividends declared per Class A share (in usd per share)	$ 0.3875
Class A Shares
Non-operating income (expense)
Net income attributable to Class A shareholders	$ 11,348	0
Weighted average Class A shares outstanding:
Basic (in shares)	57,506,195
Diluted (in shares)	57,784,240
Net income per Class A share (basic)	$ 0.20
Net income per Class A share (diluted)	0.20
Dividends declared per Class A share (in usd per share)	$ 0.3875
MGP Operating Partnership
Revenues
Rental revenue	$ 163,177	0
Tenant reimbursements and other	20,722	0
Revenues, net	183,899	0
Expenses
Depreciation	61,684	51,476
Property transactions, net	6,855	874
Property taxes	20,487	13,236
Property insurance	0	2,384
Amortization of above market lease, net	171	0
General and administrative	2,680	0
Expenses, net	91,877	67,970
Operating income (loss)	92,022	(67,970)
Non-operating income (expense)
Interest income	678	0
Interest expense	(44,636)	0
Other non-operating	(134)	0
Non-operating income (expense)	(44,092)	0
Income (loss) before income taxes	47,930	(67,970)
Provision for income taxes	(1,238)	0
Net income (loss)	$ 46,692	$ (67,970)
Weighted average Operating Partnership units outstanding:
Basic (in usd per unit)	242,868,331,000
Diluted (in usd per unit)	243,146,376,000
Net income per Operating Partnership unit, basic (in usd per unit)	$ 0.19
Net income per Operating Partnership unit, diluted (in usd per unit)	0.19
Distributions declared per Operating Partnership unit (in usd per unit)	$ 0.3875

Condensed Combined and Consolid

Condensed Combined and Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net income (loss)	$ 46,692	$ (67,970)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	61,684	51,476
Property transactions, net	6,855	874
Amortization of deferred financing costs and debt discount	2,806	0
Amortization related to above market lease, net	171	0
Provision for income taxes	1,238	0
Amortization of deferred revenue	(235)	0
Straight-line rental revenues	(677)	0
Share-based compensation	188	0
Changes in operating assets and liabilities:
Tenant and other receivables, net	4,891	0
Prepaid expenses and other assets	(704)	0
Due to MGM Resorts International and affiliates	650	0
Accounts payable, accrued expenses and other liabilities	(5,249)	0
Accrued interest	881	0
Net cash provided by (used in) operating activities	119,191	(15,620)
Cash flows from investing activities
Capital expenditures for property and equipment funded by Parent	0	(111,241)
Net cash used in investing activities	0	(111,241)
Cash flows from financing activities
Deferred financing costs	(526)	0
Repayment of debt principal	(16,750)	0
Dividends and distributions paid	(94,109)	0
Net cash transfers from Parent	0	126,861
Net cash (used in) provided by financing activities	(111,385)	126,861
Cash and cash equivalents
Net increase for the period	7,806	0
Balance, beginning of period	360,492	0
Balance, end of period	368,298	0
Supplemental cash flow disclosures
Interest paid	40,949	0
Non-cash investing and financing activities
Non-Normal Tenant Improvements by Tenant	8,480	0
Accrual of dividends and distributions payable to Class A shareholders and Operating Partnership unit holders	94,109	0
Allocation of tax attributes (to) from Parent	0	(14,695)
MGP Operating Partnership
Cash flows from operating activities
Net income (loss)	46,692	(67,970)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	61,684	51,476
Property transactions, net	6,855	874
Amortization of deferred financing costs and debt discount	2,806	0
Amortization related to above market lease, net	171	0
Provision for income taxes	1,238	0
Amortization of deferred revenue	(235)	0
Straight-line rental revenues	(677)	0
Share-based compensation	188	0
Changes in operating assets and liabilities:
Tenant and other receivables, net	4,891	0
Prepaid expenses and other assets	(704)	0
Due to MGM Resorts International and affiliates	650	0
Accounts payable, accrued expenses and other liabilities	(5,249)	0
Accrued interest	881	0
Net cash provided by (used in) operating activities	119,191	(15,620)
Cash flows from investing activities
Capital expenditures for property and equipment funded by Parent	0	(111,241)
Net cash used in investing activities	0	(111,241)
Cash flows from financing activities
Deferred financing costs	(526)	0
Repayment of debt principal	(16,750)	0
Dividends and distributions paid	(94,109)	0
Net cash transfers from Parent	0	126,861
Net cash (used in) provided by financing activities	(111,385)	126,861
Cash and cash equivalents
Net increase for the period	7,806	0
Balance, beginning of period	360,492	0
Balance, end of period	368,298	0
Supplemental cash flow disclosures
Interest paid	40,949	0
Non-cash investing and financing activities
Non-Normal Tenant Improvements by Tenant	8,480	0
Accrual of dividends and distributions payable to Class A shareholders and Operating Partnership unit holders	94,109	0
Allocation of tax attributes (to) from Parent	$ 0	$ (14,695)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income (loss)	$ 46,692	$ (67,970)
Other comprehensive loss
Unrealized loss on cash flow hedges, net	(634)	0
Other comprehensive loss	(634)	0
Comprehensive income (loss)	46,058	(67,970)
Less: Comprehensive income attributable to noncontrolling interests	(34,860)	0
Comprehensive income (loss) attributable to Class A shareholders	11,198	(67,970)
MGP Operating Partnership
Net income (loss)	46,692	(67,970)
Other comprehensive loss
Unrealized loss on cash flow hedges, net	(634)	0
Other comprehensive loss	(634)
Comprehensive income (loss)	$ 46,058	$ (67,970)

Business

Business	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	BUSINESS Organization. MGM Growth Properties LLC (“MGP” or the “Company”) is a limited liability company that was organized in Delaware on October 23, 2015. MGP conducts its operations through MGM Growth Properties Operating Partnership LP (the “Operating Partnership”), a Delaware limited partnership that was formed on January 6, 2016 and acquired by MGP on April 25, 2016 (the “IPO Date”) in connection with MGP's Formation Transactions (defined below), including its initial public offering of Class A shares as discussed further below. When the Company files its initial federal income tax return for its taxable year ended December 31, 2016 in 2017, it intends to make an election to be treated as a real estate investment trust ("REIT"). MGM Resorts International (“MGM” or the “Parent”) is a Delaware corporation that acts largely as a holding company and, through its subsidiaries, owns and operates large-scale destination entertainment and leisure resorts. Prior to the IPO Date, the real estate assets of The Mirage, Mandalay Bay, Luxor, New York-New York, Monte Carlo, Excalibur, The Park, Gold Strike Tunica, MGM Grand Detroit and Beau Rivage (collectively, the “IPO Properties”), which comprised the Company’s real estate investments prior to the acquisition of Borgata (as described below), were owned and operated by MGM. On the IPO Date, MGM engaged in a series of transactions (the “Formation Transactions”) in which subsidiaries of MGM transferred the IPO Properties to newly formed subsidiaries and subsequently transferred 100% ownership interest in such subsidiaries to the Operating Partnership pursuant to a Master Contribution Agreement (the “MCA”) in exchange for Operating Partnership units representing limited partner interests in the Operating Partnership and the assumption by the Operating Partnership of $4 billion of indebtedness from the contributing MGM subsidiaries. On the IPO Date, MGP completed the initial public offering of 57,500,000 of its Class A shares representing limited liability company interests at an initial offering price of $21.00 per share, inclusive of the full exercise by the underwriters of their option to purchase 7,500,000 Class A shares. MGP contributed the proceeds from its initial public offering to the Operating Partnership in exchange for 26.7% of the Operating Partnership units and the general partner interest in the Operating Partnership. Certain subsidiaries of MGM acquired the remaining 73.3% of the outstanding Operating Partnership units on such date. MGM retained ownership of MGP’s outstanding Class B share. The Class B share is a non-economic interest in MGP which does not provide its holder any rights to profits or losses or any rights to receive distributions from the operations of MGP or upon liquidation or winding up of MGP but which represents a majority of the voting power of MGP’s shares. As a result, MGP continues to be controlled by MGM through its majority voting rights, and is consolidated by MGM. As of March 31, 2017 , MGM owned 76.3% of the Operating Partnership units in the Operating Partnership. MGP owned the remaining 23.7% of the Operating Partnership units in the Operating Partnership. MGM’s Operating Partnership units are exchangeable into Class A shares of MGP on a one -to-one basis, or cash at the fair value of a Class A share. The determination of settlement method is at the option of MGP’s independent conflicts committee. MGM’s indirect ownership of these Operating Partnership units is recognized as a noncontrolling interest in MGP’s financial statements. A wholly owned subsidiary of MGP is the general partner of the Operating Partnership and operates and controls all of its business affairs. As a result, MGP consolidates the Operating Partnership and its subsidiaries. The Company is a publicly traded REIT primarily engaged through its investment in the Operating Partnership in the real property business, which consists of owning, acquiring and leasing large-scale destination entertainment and leisure resorts, whose tenants generally offer casino gaming, hotel, convention, dining, entertainment and retail. A wholly owned subsidiary of the Operating Partnership (the “Landlord”) leases all of its real estate properties back to a wholly owned subsidiary of MGM (the “Tenant”) under a master lease agreement (the “Master Lease”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation. The accompanying condensed combined and consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information set forth in the Accounting Standards Codification (“ASC”), as published by the Financial Accounting Standards Board (“FASB”), and with the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. All adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of results for the interim period have been included. For periods prior to the IPO Date, the accompanying condensed combined and consolidated financial statements of MGP represent the IPO Properties, which were controlled by MGM, and have been determined to be MGP’s Predecessor for accounting purposes (the “Predecessor”). The accompanying condensed combined and consolidated financial statements include Predecessor financial statements that have been “carved out” of MGM’s consolidated financial statements and reflect significant assumptions and allocations. The financial statements do not fully reflect what the Predecessor’s results of operations, financial position and cash flows would have been if the Predecessor had been a stand-alone company during the periods presented. As a result, historical financial information is not necessarily indicative of MGP’s future results of operations, financial position and cash flows. For periods subsequent to the IPO Date, the accompanying combined and consolidated financial statements of MGP represent the results of operations, financial positions and cash flows of MGP and the Operating Partnership, including their respective subsidiaries. The accompanying combined and consolidated financial statements of the Operating Partnership represent the results of operation, financial positions, and cash flows of the Operating Partnership including its subsidiaries. The accompanying condensed combined and consolidated financial statements and related notes should be read in conjunction with the audited financial statements and notes thereto included in the Company's most recent Annual Report on Form 10-K. Principles of consolidation. The Company identifies entities for which control is achieved through means other than voting rights and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is an entity in which either (i) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of such entity that most significantly impact such entity’s economic performance or (ii) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support. The Company identifies the primary beneficiary of a VIE as the enterprise that has both of the following characteristics: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or receive benefits of the VIE that could potentially be significant to the entity. The Company consolidates its investment in a VIE when it determines that it is its primary beneficiary. The Company may change its original assessment of a VIE upon subsequent events such as the modification of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposition of all or a portion of an interest held by the primary beneficiary. The Company performs this analysis on an ongoing basis. The condensed combined and consolidated financial statements include the accounts of the Operating Partnership, a VIE of which the Company is the primary beneficiary, as well as its wholly owned and majority-owned subsidiaries. The Company’s maximum exposure to loss is the carrying value of the assets and liabilities of the Operating Partnership, which represents all of the Company’s assets and liabilities. As the Company holds what is deemed a majority voting interest in the Operating Partnership through its ownership of the Operating Partnership’s sole general partner, it qualifies for the exemption from providing certain of the required disclosures associated with investments in VIEs. For entities not determined to be VIEs, the Company consolidates such entities in which the Company owns 100% of the equity. For entities in which the Company owns less than 100% of the equity interest, the Company consolidates the entity if it has the direct or indirect ability to control the entities’ activities based upon the terms of the respective entities’ ownership agreements. For these entities, the Company records a noncontrolling interest on the condensed consolidated balance sheets. All intercompany balances and transactions are eliminated in consolidation. Noncontrolling interest. The Company presents noncontrolling interest and classifies such interest as a component of consolidated shareholders’ equity, separate from the Company’s Class A shareholders’ equity. Noncontrolling interest in the Company represents Operating Partnership units currently held by subsidiaries of MGM. Net income or loss of the Operating Partnership is allocated to its noncontrolling interest based on the noncontrolling interest’s ownership percentage in the Operating Partnership except for income tax expenses. Ownership percentage is calculated by dividing the number of Operating Partnership units held by the noncontrolling interest by the total Operating Partnership units held by the noncontrolling interest and the Company. Issuance of additional Class A shares and Operating Partnership units changes the ownership interests of both the noncontrolling interest and the Company. Such transactions and the related proceeds are treated as capital transactions. MGM may tender its Operating Partnership units for redemption by the Operating Partnership in exchange for cash equal to the market price of MGP’s Class A shares at the time of redemption or for unregistered Class A shares on a one-for-one basis. Such selection to pay cash or issue Class A shares to satisfy an Operating Partnership unitholder’s redemption request is solely within the control of MGP’s independent conflicts committee. Use of estimates. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company’s most significant assumptions and estimates relate to the useful lives of real estate assets, real estate impairment assessments. These estimates are based on historical experience and other assumptions which management believes are reasonable under the circumstances. Management evaluates its estimates on an ongoing basis and makes revisions to these estimates and related disclosures as experience develops or new information becomes known. Actual results could differ from these estimates. Real estate investments. Real estate investments consist of land, buildings, improvements and integral equipment. Because the Formation Transactions and the Borgata Transaction (as defined below) represent transactions between entities under common control, such real estate was initially recorded by the Company at MGM’s historical cost basis, less accumulated depreciation (i.e., there was no change in the basis of the contributed assets), as of the IPO Date and the date of the consummation of the Borgata Transaction, respectively. Costs of maintenance and repairs to real estate investments are the responsibility of the Tenant under the Master Lease. Although the Tenant is responsible for all capital expenditures during the term of the Master Lease, if, in the future, a deconsolidation event occurs, the Company will be required to pay the Tenant, should the Tenant so elect, for certain capital improvements that would not constitute “normal tenant improvements” in accordance with U.S. GAAP (“Non-Normal Tenant Improvements”), subject to an initial cap of $100 million in the first year of the Master Lease increasing annually by $75 million each year thereafter. The Company will be entitled to receive additional rent based on the 10 -year Treasury yield plus 600 basis points multiplied by the value of the new capital improvements the Company is required to pay for in connection with a deconsolidation event and such capital improvements will be subject to the terms of the Master Lease. Examples of Non-Normal Tenant Improvements include the costs of structural elements at the properties, including capital improvements that expand the footprint or square footage of any of the properties or extend the useful life of the properties, as well as equipment that would be a necessary improvement at any of the properties, including initial installation of elevators, air conditioning systems or electrical wiring. Such Non-Normal Tenant Improvements are capitalized and depreciated over the asset’s remaining life. Non-Normal Tenant Improvements were $80.9 million as of March 31, 2017 . In accordance with accounting standards governing the impairment or disposal of long-lived assets, the carrying value of long-lived assets, including land, buildings and improvements, land improvements and integral equipment is evaluated whenever events or changes in circumstances indicate that a potential impairment has occurred relative to a given asset or assets. Factors that could result in an impairment review include, but are not limited to, a current period cash flow loss combined with a history of cash flow losses, current cash flows that may be insufficient to recover the investment in the property over the remaining useful life, a projection that demonstrates continuing losses associated with the use of a long-lived asset, significant changes in the manner of use of the assets or significant changes in business strategies. If such circumstances arise, the Company uses an estimate of the undiscounted value of expected future operating cash flows to determine whether the long-lived assets are impaired. If the aggregate undiscounted cash flows plus net proceeds expected from disposition of the asset (if any) are less than the carrying amount of the assets, the resulting impairment charge to be recorded is calculated based on the excess of the carrying value of the assets over the fair value of such assets, with the fair value determined based on an estimate of discounted future cash flows, appraisals or other valuation techniques. There were no impairment charges related to long-lived assets recognized during the three months ended March 31, 2017 or 2016 . Cash and cash equivalents. Cash and cash equivalents include investments and interest bearing instruments with maturities of 90 days or less at the date of acquisition. Such investments are carried at cost, which approximates market value. Deferred revenue. The Company receives nonmonetary consideration related to Non-Normal Tenant Improvements as they automatically become MGP’s property, and recognizes the cost basis of Non-Normal Tenant Improvements as real estate investments and deferred revenue. The Company depreciates the real estate investments over their estimated useful lives and amortizes the deferred revenue as additional rental revenue over the remaining term of the Master Lease once the related real estate assets are placed in service. Revenue recognition. Rental revenue under the Master Lease is recognized on a straight-line basis over the non-cancelable term and reasonably assured renewal periods, which includes the initial lease term of 10 years and all four additional five -year terms under the Master Lease, for all contractual revenues that are determined to be fixed and measurable. The difference between such rental revenue earned and the cash rent due under the provisions of the Master Lease is recorded as deferred rent receivable and included as a component of prepaid expenses and other assets, or as deferred revenue if cash rent due exceeds rental revenue earned. Property tax reimbursements from Tenant arise from the triple-net structure of the Master Lease which provides for the recovery of property taxes, which are paid by the Company on behalf of the Tenant. This revenue is recognized in the same periods as the expense is incurred. Depreciation and property transactions. Depreciation expense is recognized over the useful lives of real estate applying the straight-line method. Useful lives are periodically reviewed. Leased real estate and leasehold improvements are depreciated on a straight-line basis over the following estimated useful lives: Buildings and building improvements 20 to 40 years Land improvements 10 to 20 years Fixtures and integral equipment 3 to 20 years Property transactions, net are comprised of transactions related to long-lived assets, such as normal losses on the disposition of assets. General and administrative. General and administrative expenses include the salaries and benefits of employees and external consulting costs. In addition, pursuant to a corporate services agreement entered into on the IPO Date between the Operating Partnership and MGM (the “Corporate Services Agreement”), MGM provides the Operating Partnership and its subsidiaries with financial, administrative and operational support services, including accounting and finance support, human resources support, legal and regulatory compliance support, insurance advisory services, internal audit services, governmental affairs monitoring and reporting services, information technology support, construction services and various other support services. MGM is reimbursed for all costs it incurs directly related to providing the services thereunder. The Operating Partnership incurred expenses pursuant to the Corporate Services Agreement for the three-month period ending March 31, 2017 of $0.4 million . Share-based compensation. The Company recognizes share-based compensation awards as compensation expense and includes such expense within general and administrative expense in the condensed combined and consolidated statement of operations. Compensation expense, net of estimated forfeitures, for restricted share unit awards is based on the fair value of MGP’s Class A shares at the date of grant and is generally recognized ratably over the vesting period. For ratable awards, the Company recognized compensation costs for all grants on a straight-line basis over the requisite service period of the entire award. Compensation expense for performance share unit awards, which have market conditions, is based on a Monte Carlo simulation at the date of grant and is generally recognized ratably over the vesting period. Income tax provision. For interim income tax reporting the Company estimates its annual effective tax rate and applies it to its year-to-date ordinary income. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur. The Company’s effective income tax rate was 2.6% for the three months ended March 31, 2017. The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company will elect to be treated as a REIT as defined under Section 856(a) of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with its taxable year ended December 31, 2016. To qualify as a REIT, the Company must meet certain organizational, income, asset and distribution tests. Accordingly, except as described below, the Company will generally not be subject to corporate U.S. federal or state income tax to the extent that it makes qualifying distributions of all of its taxable income to its shareholders and provided it satisfies on a continuing basis, through actual investment and operating results, the REIT requirements, including certain asset, income, distribution and share ownership tests. U.S. federal income tax law generally requires that a REIT distribute annually at least 90% of its REIT taxable income, without regard to the deduction for dividends paid and excluding net capital gains, and that it pay taxes at regular corporate income tax rates to the extent that it annually distributes less than 100% of its taxable income. The Company distributed 100% of its taxable income in the taxable year ended December 31, 2016 and anticipates that it will do so again in the taxable year ending December 31, 2017. Accordingly, for periods subsequent to the IPO Date, the accompanying condensed combined and consolidated financial statements do not reflect a provision for federal income taxes. However, the Company may still be subject to federal excise tax, as well as certain state and local income and franchise taxes. The Landlord is required to join in the filing of a New Jersey consolidated corporation business tax return under the New Jersey Casino Control Act and include in such return its income and expenses associated with its New Jersey assets and is thus subject to an entity level tax in New Jersey. Although the consolidated New Jersey return also includes MGM and certain of its subsidiaries, the Company is required to record New Jersey state income taxes in the accompanying financial statements as if the Landlord was taxed for state purposes on a stand-alone basis. The Company and MGM have entered into a tax sharing agreement providing for an allocation of taxes due in the consolidated New Jersey return. Pursuant to this agreement, the Landlord will only be responsible for New Jersey taxes on any gain that may be realized upon a future sale of the New Jersey assets resulting solely from an appreciation in value of such assets over their value on the date they were contributed to the Landlord by a subsidiary of MGM. MGM is responsible for all other taxes reported in the New Jersey consolidated return. No amounts are due to MGM under the tax sharing agreement as of March 31, 2017. Accordingly, the provision for current taxes and the deferred tax liability in the accompanying financial statements are attributable to noncontrolling interest since the payment of such taxes are the responsibility of MGM. The Company was included in the consolidated or unitary income tax returns of MGM for all Predecessor periods. In the accompanying financial statements, the Predecessor periods reflect an allocation of income taxes from MGM as if the company’s Predecessor had filed a separate tax return in those periods. Net income per share. Basic net income per share includes only the weighted average number of Class A shares outstanding during the period. Dilutive net income per share includes the weighted average number of Class A shares and the dilutive effect of share-based compensation awards outstanding during the period, when such awards are dilutive. Net income per unit. Basic net income per unit includes only the weighted average number of Operating Partnership units outstanding during the period. Dilutive net income per unit includes the weighted average number of Operating Partnership units and the dilutive effect of share-based compensation awards outstanding during the period, when such awards are dilutive. Deferred financing costs. Deferred financing costs were incurred in connection with the issuance of the term loan facilities, revolving credit facility and senior notes. Costs incurred in connection with term loan facilities and senior notes are capitalized and offset against the carrying amount of the related indebtedness. These costs are amortized over the term of the related indebtedness, and are included in interest expense in the combined and consolidated statement of operations. Costs incurred in connection with the Operating Partnership’s entrance into the revolving credit facility are capitalized as a component of prepaid expenses and other assets. These costs are amortized over the term of the revolving credit facility, and are included in interest expense in the combined and consolidated statement of operations. The Company recognized non-cash interest expense related to the amortization of deferred financing costs of $2.8 million during the three months ended March 31, 2017. Derivative financial instruments. The Company accounts for its derivatives in accordance with FASB ASC Topic 815, Derivatives and Hedging , in which all derivative instruments are reflected at fair value as either assets or liabilities. For derivative instruments that are designated and qualify as hedging instruments, the Company records the effective portion of the gain or loss on the hedge instruments as a component of accumulated other comprehensive income. Any ineffective portion of a derivative’s change in fair value is immediately recognized within net income. Fair value measurements . Fair value measurements are utilized in accounting for testing of long-lived assets for impairment. Fair value of financial and nonfinancial assets and liabilities is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The three-tier hierarchy for inputs used in measuring fair value, which prioritizes the inputs used in the methodologies of measuring fair value for assets and liabilities, is as follows: Level 1—Observable inputs for identical instruments such as quoted market prices; Level 2—Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.) and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs); and Level 3—Unobservable inputs that reflect the Company’s determination of assumptions that market participants would use in pricing the asset or liability. These inputs are developed based on the best information available, including management’s own data. The fair value of the Company’s cash and cash equivalents, accounts payable and accrued expenses approximate their carrying value because of the short-term nature of these instruments. The principal amount and fair value of other financial instruments are as follows: March 31, 2017 Total Level 1 Level 2 Level 3 (in thousands) Assets: Derivative asset - interest rate swaps $ 2,770 $ — $ 2,770 $ — Liabilities: Senior secured credit facility: Senior secured term loan A facility 285,000 285,000 Senior secured term loan B facility 1,842,947 1,842,947 Senior secured revolving credit facility — — $1,050 million 5.625% senior notes, due 2024 1,110,375 1,110,375 $500 million 4.50% senior notes, due 2026 484,375 484,375 Derivative liability - interest rate swaps 1,525 1,525 $ 3,724,222 $ — $ 3,724,222 $ — The total principal balance of our debt was $3.7 billion at March 31, 2017, with a fair value of $3.7 billion . The estimated fair value was estimated using quoted prices for identical or similar liabilities in markets that are not active for each of the Company’s term loan A facility, term loan B facility, revolving credit facility and senior notes. These fair value measurements are considered Level 2 of the fair value hierarchy. Derivative assets and liabilities are carried at fair value. The fair value of interest rate swaps is determined based on the present value of expected future cash flows using observable, quoted LIBOR swap rates for the full term of the swap. The Company has determined that the majority of the inputs used to value its derivative assets fall within Level 2 of the fair value hierarchy. Reportable segment. The Company’s real estate properties are similar in that they consist of large-scale destination entertainment and leisure resorts and related offerings, whose tenants generally offer casino gaming, hotel, convention, dining, entertainment and retail, are held by a subsidiary of the Operating Partnership, have similar economic characteristics and are governed under a single Master Lease. As such, the properties are reported as one reportable segment. Concentrations of credit risk. All of the Company’s real estate properties have been leased to a wholly owned subsidiary of MGM, and all of MGP’s revenues are derived from the Master Lease. MGM is a publicly traded company and is subject to the filing requirements of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), and is required to file periodic reports on Form 10-K and Form 10-Q with the SEC. Refer to www.edgar.gov for MGM’s publicly available financial information (which financial information is not incorporated by reference herein). Management does not believe there are any other significant concentrations of credit risk. Geographical risk. The majority of the Company’s real estate properties are located in Las Vegas, Nevada. Accordingly, future negative trends in local economic activity or natural disasters in this area might have a more significant effect on the Company than a more geographically diversified entity and could have an adverse impact on its financial condition and operating results. Recently issued accounting standards. In January 2017, the Company adopted Accounting Standards Update No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 simplifies the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The adoption of ASU 2016-09 did not have a material effect on the Company’s financial statements and footnote disclosures. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which replaces the existing guidance in FASB ASC Topic 840, Leases . ASU 2016-02 requires a dual approach for lessee accounting under which a lessee would account for leases as finance leases or operating leases. Both finance leases and operating leases will result in the lessee recognizing a right-of-use (“ROU”) asset and a corresponding lease liability. For finance leases the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently in the process of determining the method of adoption and assessing the impact that adoption of this guidance will have on its financial statements and footnote disclosures. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, Revenue From Contracts With Customers (Topic 606): Deferral of the Effective Date , which defers the effective date of Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers (“ASU 2014-09”) to the fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. ASU 2014-09 outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This new revenue recognition model provides a five-step analysis in determining when and how revenue is recognized. Additionally, the new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. The adoption of ASU 2015-14 will not have a material impact on the Company's financial statements and footnote disclosures.

Borgata Transaction

Borgata Transaction	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Borgata Transaction	BORGATA TRANSACTION On August 1, 2016 , MGM completed the acquisition of Boyd Gaming’s ownership interest in Borgata. Concurrently, MGM, MGP, the Operating Partnership, the Landlord and the Tenant completed the transfer of the real estate assets related to Borgata, located at Renaissance Pointe in Atlantic City, New Jersey, from a subsidiary of MGM to the Landlord (the “Borgata Transaction”). A subsidiary of MGM operates Borgata. The real estate assets related to Borgata were leased by the Landlord to the Tenant via an amendment to the Master Lease. As a result, the initial rent under the Master Lease increased by $100 million , $90 million of which relates to the base rent for the initial term and the remaining $10 million of which relates to the percentage rent. Following the closing of the Borgata Transaction, the base rent under the Master Lease increased to $585 million for the initial term and the percentage rent was $65 million , prorated for the remainder of the first lease year after the Borgata Transaction. The consideration that was paid by MGP to a subsidiary of MGM consisted of 27.4 million newly issued Operating Partnership units and the assumption by the Landlord of $545 million of indebtedness from such subsidiary of MGM. The Borgata Transaction was accounted for as a transaction under common control, and therefore the Company recorded the Borgata real estate assets at their carryover value of $1.3 billion determined by MGM in its purchase price allocation, along with a related deferred tax liability of $25.3 million . In addition, the Company recognized an above market lease liability and an above market lease asset related to ground leases assigned to the Landlord as part of the Borgata Transaction covering approximately 11 acres partially underlying and adjacent to the Borgata. Under the terms of the Master Lease, the Tenant is responsible for the rent payments related to these ground leases during the term of the Master Lease. The Company amortizes the above market lease liability on a straight-line basis over the terms of the underlying ground leases, which extend through 2070 . The Company amortizes the above market lease asset on a straight-line basis over the term of the Master Lease, which extends through 2046 (including reasonably assured renewal periods pursuant to the terms of the Master Lease).

Real Estate Investments

Real Estate Investments	3 Months Ended
	Mar. 31, 2017
Real Estate [Abstract]
Real Estate Investments	REAL ESTATE INVESTMENTS The carrying value of real estate investments is as follows: March 31, 2017 December 31, 2016 (in thousands) Land $ 4,143,513 $ 4,143,513 Buildings, building improvements, land improvements and integral equipment 7,324,486 7,324,657 11,467,999 11,468,170 Less: Accumulated depreciation (2,448,379 ) (2,388,492 ) $ 9,019,620 $ 9,079,678

Leases

Leases	3 Months Ended
	Mar. 31, 2017
Leases [Abstract]
Leases	LEASES Master Lease. Pursuant to the Master Lease, the Tenant has leased the Company’s real estate properties from the Landlord. The Master Lease is accounted for as an operating lease and has an initial lease term of ten years with the potential to extend the term for four additional five -year terms thereafter at the option of the Tenant. The Master Lease provides that any extension of its term must apply to all of the real estate under the Master Lease at the time of the extension. The Master Lease has a triple-net structure, which requires the Tenant to pay substantially all costs associated with the lease, including real estate taxes, insurance, utilities and routine maintenance, in addition to the base rent. Additionally, the Master Lease provides MGP with a right of first offer with respect to MGM National Harbor and MGM’s development property in Springfield, Massachusetts (the “ROFO Properties”), which MGP may exercise should MGM elect to sell these properties in the future. As of March 31, 2017 , the annual rent payments under the Master Lease were $650 million . Rent under the Master Lease consists of a “base rent” component and a “percentage rent” component. For the first year, the base rent represents 90% of the initial total rent payments due under the Master Lease, or $585 million , and the percentage rent represents 10% of the initial total rent payments due under the Master Lease, or $65 million . The base rent includes a fixed annual rent escalator of 2.0% for the second through the six th lease years (as defined in the Master Lease). After the sixth lease year, the annual escalator of 2.0% will be subject to the Tenant and, without duplication, the operating subsidiary sublessees of the Tenant (the “Operating Subtenants”), collectively meeting an adjusted net revenue to rent ratio of 6.25 :1.00 based on their net revenue from the leased properties subject to the Master Lease (as determined in accordance with U.S. GAAP, adjusted to exclude net revenue attributable to certain scheduled subleases and, at the Tenant’s option, reimbursed cost revenue). The first 2.0% fixed annual rent escalator went into effect on April 1, 2017, resulting in annual rent payments of $661.7 million for the second lease year. The percentage rent will initially be a fixed amount for approximately the first six years and will then be adjusted every five years based on the average actual annual net revenues of the Tenant and, without duplication, the Operating Subtenants, from the leased properties subject to the Master Lease at such time for the trailing five calendar-year period (calculated by multiplying the average annual net revenues, excluding net revenue attributable to certain scheduled subleases and, at the Tenant’s option, reimbursed cost revenue, for the trailing five calendar-year period by 1.4% ). Rental revenues from the Master Lease for the three months ended March 31, 2017 were $163.2 million . The Company also recognized revenue related to the reimbursement of property taxes paid by the Tenant of $20.5 million for the three months ended March 31, 2017 . Under the Master Lease, remaining noncancelable minimum rental payments as of March 31, 2017 are as follows: Year ending December 31, (in thousands) 2017 $ 496,275 2018 670,651 2019 682,764 2020 695,119 2021 707,721 2022 662,137 Thereafter 2,099,134

Debt

Debt	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt	DEBT Debt consists of the following: March 31, December 31, 2017 2016 (in thousands) Senior secured credit facility: Senior secured term loan A facility $ 285,000 $ 292,500 Senior secured term loan B facility 1,831,500 1,840,750 Senior secured revolving credit facility — — $1,050 million 5.625% senior notes, due 2024 1,050,000 1,050,000 $500 million 4.50% senior notes, due 2026 500,000 500,000 3,666,500 3,683,250 Less: Unamortized discount and debt issuance costs (59,527 ) (61,308 ) $ 3,606,973 $ 3,621,942 Operating Partnership credit agreement. The Operating Partnership entered into a credit agreement, comprised of a $300 million senior secured term loan A facility, a $1.85 billion senior secured term loan B facility and a $600 million senior secured revolving credit facility. The term loan facilities are subject to amortization of principal in equal quarterly installments, with 5.0% of the initial aggregate principal amount of the term loan A facility and 1.0% of the initial aggregate principal amount of the term loan B facility to be payable each year. The term loan facilities were recorded at cost net of the original issue discount and related borrowing costs. The related original issue discount and the borrowing costs are amortized over the term of the borrowing. The revolving credit facility is recorded at cost. The related borrowing costs were capitalized as a component of prepaid expenses and other assets and are amortized over the term of the credit facility. The revolving credit facility and term loan A facility bear interest at LIBOR plus 2.75% for the first six months, and thereafter the interest rate will be determined by reference to a total net leverage ratio pricing grid which would result in an interest rate of LIBOR plus 2.25% to 2.75% . The term loan B facility initially bore interest at LIBOR plus 3.25% with a LIBOR floor of 0.75% . On October 26, 2016, the Operating Partnership completed a re-pricing at par of its $1.84 billion term loan B facility. As a result of the re-pricing, the term loan B facility bore interest at LIBOR plus 2.75% , with a LIBOR floor of 0.75% . In February 2017, MGP's corporate family rating was upgraded which resulted in the Operating Partnership receiving a further reduction in pricing to LIBOR plus 2.50% , with a LIBOR floor of 0.75% . The term loan B facility was issued at 99.75% to initial lenders. On May 1, 2017, the Company successfully re-priced the Operating Partnership’s $1.832 billion term loan B facility. The term loan B facility was re-priced to bear interest at LIBOR plus 2.25% , with a LIBOR floor of 0% . The revolving credit facility and the term loan A facility will mature in 2021 and the term loan B facility will mature in 2023. As of March 31, 2017, no amounts were drawn on the revolving credit facility. At March 31, 2017, the interest rate on the term loan A facility was 3.73% and the interest rate on the term loan B facility was 3.48% . See Note 7 for further discussion of the Company's interest rate swap agreements related to the term loan B facility. The credit agreement contains customary representations and warranties, events of default and positive and negative covenants. These covenants are subject to a number of important exceptions and qualifications, including, with respect to the restricted payments covenant, the ability to make unlimited restricted payments to maintain the REIT status of MGP. The revolving credit facility and term loan A facility also require the Operating Partnership to maintain compliance with a maximum secured net debt to adjusted total asset ratio, a maximum total net debt to adjusted asset ratio and a minimum interest coverage ratio, all of which may restrict the Operating Partnership’s ability to incur additional debt to fund its obligations in the near term. As of March 31, 2017, the Operating Partnership was required to have a senior secured net debt to adjusted total assets ratio of not more than 0.40 to1.00, a total net debt to adjusted total assets ratio of not more than 0.65 to 1.00, and an interest coverage ratio of not less than 2.00 to 1.00. The Operating Partnership was in compliance with its financial covenants at March 31, 2017. The revolving credit facility and the term loan facilities are both guaranteed by each of the Operating Partnership’s existing and subsequently acquired direct and indirect wholly owned material domestic restricted subsidiaries, and secured by a first priority lien security interest on substantially all of the Operating Partnership’s and such restricted subsidiaries’ material assets, including mortgages on its real estate, subject to customary exclusions. Operating Partnership senior notes. On April 20, 2016, a wholly owned subsidiary of the Operating Partnership issued $1.05 billion in aggregate principal amount of 5.625% senior notes due 2024 and on the IPO Date, the Operating Partnership entered into a supplemental indenture through which it assumed the obligations under the senior notes from such subsidiary (which merged into the Operating Partnership on such date). The senior notes will mature on May 1, 2024 . Interest on the senior notes is payable on May 1 and November 1 of each year, commencing on November 1, 2016 . The senior notes are fully and unconditionally guaranteed, jointly and severally, on a senior basis by all of the Operating Partnership’s subsidiaries that guarantee the Operating Partnership’s credit facilities, other than MGP Finance Co-Issuer, Inc., which is a co-issuer of the senior notes. The Operating Partnership may redeem all or part of the senior notes at a redemption price equal to 100% of the principal amount of the senior notes plus, to the extent the Operating Partnership is redeeming senior notes prior to the date that is three months prior to their maturity date, an applicable make whole premium, plus, in each case, accrued and unpaid interest. On August 12, 2016, the Operating Partnership issued $500 million in aggregate principal amount of 4.500% senior notes due 2026 . The senior notes will mature on September 1, 2026. Interest on the senior notes is payable on March 1 and September 1 of each year, commencing on March 1, 2017 . The senior notes are fully and unconditionally guaranteed, jointly and severally, on a senior basis by all of the Operating Partnership’s subsidiaries that guarantee the Operating Partnership’s credit facilities, other than MGP Finance Co-Issuer, Inc., which is a co-issuer of the senior notes. The Operating Partnership may redeem all or part of the senior notes at a redemption price equal to 100% of the principal amount of the senior notes plus, to the extent the Operating Partnership is redeeming senior notes prior to the date that is three months prior to their maturity date, an applicable make whole premium, plus, in each case, accrued and unpaid interest. The indentures governing the senior notes contain customary covenants and events of default. These covenants are subject to a number of important exceptions and qualifications set forth in the applicable indentures governing the senior notes, including, with respect to the restricted payments covenants, the ability to make unlimited restricted payments to maintain the REIT status of MGP. Maturities of debt. Maturities of the principal amount of the Company’s debt as of March 31, 2017 are as follows: Year ending December 31, ( in thousands ) 2017 $ 25,125 2018 33,500 2019 33,500 2020 33,500 2021 247,250 Thereafter 3,293,625 $ 3,666,500

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	DERIVATIVES AND HEDGING ACTIVITIES The Company uses derivative instruments to mitigate the effects of interest rate volatility inherent in its variable rate debt, which could unfavorably impact our future earnings and forecasted cash flows. The Company does not use derivative instruments for speculative or trading purposes. The Operating Partnership is party to interest rate swaps to mitigate the interest rate risk inherent in its senior secured term loan B facility. The principal terms of these interest rate swaps at March 31, 2017 are as follows: Fair Value Asset (Liability) Effective Date Maturity Date Notional Amount Fixed Rate March 31, 2017 December 31, 2016 (in thousands, except percentages) December 8, 2016 November 30, 2021 $ 500,000 1.825 % $ 2,770 $ 1,879 January 31, 2017 November 30, 2021 700,000 1.964 % (1,525 ) N/A $ 1,200,000 $ 1,245 $ 1,879 Interest rate swaps valued in net unrealized gain positions are recognized as asset balances within the prepaid expenses and other assets balance. Interest rate swaps valued in net unrealized loss positions are recognized as liability balances within accounts payable, accrued expenses and other liabilities balance. For the three months ended March 31, 2017, the amount recorded in other comprehensive income related to the derivative instruments was a net loss of $0.6 million . There was no ineffective portion of the change in fair value derivatives. During the three months ended March 31, 2017, the Company recorded interest expense of $2.7 million related to the swap agreements.

Shareholders' Equity and Partne

Shareholders' Equity and Partners' Capital	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Stockholders' Equity and Partners' Capital	SHAREHOLDERS’ EQUITY AND PARTNERS' CAPITAL MGP shareholders' equity . On the IPO Date, MGP completed the initial public offering of 57,500,000 of its Class A shares representing limited liability company interests. MGM retained ownership of MGP’s single Class B share. The Class B share is a non-economic interest in MGP which does not provide its holder any rights to profits or losses or any rights to receive distributions from operations of MGP or upon liquidation or winding up of MGP. MGP’s Class B shareholder is entitled to an amount of votes representing a majority of the total voting power of MGP’s shares. If the holder of the Class B share and its controlled affiliates’ (excluding MGP and its subsidiaries) aggregate beneficial ownership of the combined economic interests in MGP and the Operating Partnership falls below 30% , the Class B share is no longer entitled to any voting rights. To the extent that the Class B share is entitled to majority voting power pursuant to MGP’s operating agreement, MGM may only transfer the Class B share (other than transfers to us and MGM’s controlled affiliates) if and to the extent that such transfer is approved by special approval by an independent conflicts committee, not to be unreasonably withheld. When determining whether to grant such approval, the conflicts committee must take into account the interests of MGP’s Class A shareholders and MGP ahead of the interests of the holder of the Class B share. No par value is attributed to the MGP’s Class A and Class B shares. Operating Partnership capital. On the IPO Date, MGP contributed the proceeds from its initial public offering to the Operating Partnership in exchange for 26.7% of the outstanding Operating Partnership units in the Company. Certain subsidiaries of MGM also acquired 73.3% of the outstanding Operating Partnership units on the IPO Date. As of August 1, 2016, the date of the Borgata Transaction, MGP’s ownership percentage in the Operating Partnership units was reduced to 23.7% and MGM's indirect ownership percentage increased to 76.3% . MGP dividends and Operating Partnership distributions. On March 15, 2017, the Operating Partnership announced a cash distribution to holders of Operating Partnership units of $94.1 million or $0.3875 per Operating Partnership unit. MGP concurrently declared a cash dividend for the quarter ended March 31, 2017 of $22.3 million or $0.3875 per Class A share payable to shareholders of record as of March 31, 2017. The distribution and dividend were paid on April 13, 2017. Dividends with respect to MGP’s Class A shares are characterized for federal income tax purposes as taxable ordinary dividends, capital gains dividends, non-dividend distributions or a combination thereof. The following table presents MGP's changes in shareholders' equity for the three months ended March 31, 2017 : Class A Additional Accumulated Other Comprehensive Income Total Shareholders' Equity Non-controlling Total (in thousands, except per share amounts) Balance at January 1, 2017 $ — $ 1,363,130 $ (29,758 ) $ 445 1,333,817 $ 4,274,444 $ 5,608,261 Net income - January 1, 2017 to March 31, 2017 — — 11,348 — 11,348 35,344 46,692 Other comprehensive loss - cash flow hedges — — — (150 ) (150 ) (484 ) (634 ) Share-based compensation — 44 — — 44 144 188 Deemed contribution - tax sharing agreement — 1,238 1,238 Dividends declared, $0.3875 per Class A share — — (22,282 ) — (22,282 ) (71,827 ) (94,109 ) Other — 96 — — 96 305 401 Balance at March 31, 2017 $ — $ 1,363,270 $ (40,692 ) $ 295 $ 1,322,873 $ 4,239,164 $ 5,562,037 The following table presents the Operating Partnership's changes in partners' capital for the three months ended March 31, 2017 : General Partner Limited Partner Total Partners' Capital (in thousands, except per unit amounts) Balance at January 1, 2017 $ — $ 5,608,261 $ 5,608,261 Net income - January 1, 2017 to March 31, 2017 — 46,692 46,692 Other comprehensive loss - cash flow hedges — (634 ) (634 ) Share-based compensation — 188 188 Deemed contribution - tax sharing agreement — 1,238 1,238 Distributions declared, $0.3875 per Operating Partnership unit — (94,109 ) (94,109 ) Other — 401 401 Balance at March 31, 2017 $ — $ 5,562,037 $ 5,562,037

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Accumulated Other Comprehensive Income	ACCUMULATED OTHER COMPREHENSIVE INCOME Comprehensive income includes net income and all other non-shareholder changes in equity, or other comprehensive income. The following table summarizes the changes in accumulated other comprehensive income by component for the three months ended March 31, 2017 (there was no other comprehensive income for the three months ended March 31, 2016 ): Changes in Fair Value of Effective Cash Flow Hedge Total (in thousands) Balance at December 31, 2016 $ 1,879 $ 1,879 Other comprehensive income before reclassifications 2,052 2,052 Amounts reclassified from accumulated other comprehensive income (2,686 ) (2,686 ) Net current period other comprehensive loss (634 ) (634 ) Balance at March 31, 2017 1,245 1,245 Accumulated other comprehensive (income) attributable to noncontrolling interest (950 ) (950 ) Accumulated other comprehensive income attributable to Class A shareholders $ 295 $ 295

Net Income Per Class A Share

Net Income Per Class A Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Income Per Class A Share	NET INCOME PER CLASS A SHARE The table below provides net income and the number of Class A shares used in the computations of “basic” net income per share, which utilizes the weighted-average number of Class A shares outstanding without regard to dilutive potential Class A shares, and “diluted” net income per share, which includes all such shares. Net income attributable to Class A shares, weighted average Class A shares outstanding and the effect of dilutive securities outstanding are presented for the three months ended March 31, 2017. Net income per share has not been presented for the Class B shareholder as the Class B share is not entitled to any economic rights. Three Months Ended March 31, 2017 (in thousands, except share and per share amounts) Basic net income per share Numerator: Net income attributable to Class A shares $ 11,348 Denominator: Basic weighted average Class A shares outstanding 57,506,195 Basic net income per Class A share $ 0.20 Three Months Ended March 31, 2017 (in thousands, except share and per share amounts) Diluted net income per share Numerator: Net income attributable to Class A shares $ 11,348 Denominator: Basic weighted average Class A shares outstanding 57,506,195 Effect of dilutive shares for diluted net income per Class A share 278,045 Weighted average shares for diluted net income per Class A share 57,784,240 Diluted net income per Class A share $ 0.20 NET INCOME PER OPERATING PARTNERSHIP UNIT The table below provides net income and the number of Operating Partnership units used in the computations of “basic” net income per Operating Partnership unit, which utilizes the weighted-average number of Operating Partnership units outstanding without regard to dilutive potential Operating Partnership units, and “diluted” net income per Operating Partnership units, which includes all such Operating Partnership units. Net income attributable to Operating Partnership units, weighted average Operating Partnership units outstanding and the effect of dilutive securities outstanding are presented for the three months ended March 31, 2017. Three Months Ended March 31, 2017 (in thousands, except unit and per unit amounts) Basic net income per Operating Partnership unit Numerator: Net income $ 46,692 Denominator: Basic weighted average Operating Partnership units outstanding 242,868,331 Basic net income per Operating Partnership unit $ 0.19 Three Months Ended March 31, 2017 (in thousands, except unit and per unit amounts) Diluted net income per Operating Partnership unit Numerator: Net income $ 46,692 Denominator: Basic weighted average Operating Partnership units outstanding 242,868,331 Effect of dilutive shares for diluted net income per Operating Partnership unit 278,045 Weighted average shares for diluted net income per Operating Partnership unit 243,146,376 Diluted net income per Operating Partnership unit $ 0.19

Net Income Per Operating Patner

Net Income Per Operating Patnership Unit	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Income Per Operating Partnership Unit	NET INCOME PER CLASS A SHARE The table below provides net income and the number of Class A shares used in the computations of “basic” net income per share, which utilizes the weighted-average number of Class A shares outstanding without regard to dilutive potential Class A shares, and “diluted” net income per share, which includes all such shares. Net income attributable to Class A shares, weighted average Class A shares outstanding and the effect of dilutive securities outstanding are presented for the three months ended March 31, 2017. Net income per share has not been presented for the Class B shareholder as the Class B share is not entitled to any economic rights. Three Months Ended March 31, 2017 (in thousands, except share and per share amounts) Basic net income per share Numerator: Net income attributable to Class A shares $ 11,348 Denominator: Basic weighted average Class A shares outstanding 57,506,195 Basic net income per Class A share $ 0.20 Three Months Ended March 31, 2017 (in thousands, except share and per share amounts) Diluted net income per share Numerator: Net income attributable to Class A shares $ 11,348 Denominator: Basic weighted average Class A shares outstanding 57,506,195 Effect of dilutive shares for diluted net income per Class A share 278,045 Weighted average shares for diluted net income per Class A share 57,784,240 Diluted net income per Class A share $ 0.20 NET INCOME PER OPERATING PARTNERSHIP UNIT The table below provides net income and the number of Operating Partnership units used in the computations of “basic” net income per Operating Partnership unit, which utilizes the weighted-average number of Operating Partnership units outstanding without regard to dilutive potential Operating Partnership units, and “diluted” net income per Operating Partnership units, which includes all such Operating Partnership units. Net income attributable to Operating Partnership units, weighted average Operating Partnership units outstanding and the effect of dilutive securities outstanding are presented for the three months ended March 31, 2017. Three Months Ended March 31, 2017 (in thousands, except unit and per unit amounts) Basic net income per Operating Partnership unit Numerator: Net income $ 46,692 Denominator: Basic weighted average Operating Partnership units outstanding 242,868,331 Basic net income per Operating Partnership unit $ 0.19 Three Months Ended March 31, 2017 (in thousands, except unit and per unit amounts) Diluted net income per Operating Partnership unit Numerator: Net income $ 46,692 Denominator: Basic weighted average Operating Partnership units outstanding 242,868,331 Effect of dilutive shares for diluted net income per Operating Partnership unit 278,045 Weighted average shares for diluted net income per Operating Partnership unit 243,146,376 Diluted net income per Operating Partnership unit $ 0.19

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Ground leases. The Company was assigned ground leases in the Borgata Transaction as discussed in Note 3. Such amounts will be paid by the Tenant pursuant to the Master Lease through 2046 (including renewal periods). Estimated minimum lease payments pursuant to the ground leases through 2070 are as follows: (in thousands) Year ending December 31, 2017 $ 4,816 2018 6,688 2019 6,688 2020 7,014 2021 7,027 Thereafter 703,516 Total minimum lease payments $ 735,749 Litigation. In the ordinary course of business, from time to time, the Company expects to be subject to legal claims and administrative proceedings, none of which are currently outstanding, which the Company believes could have, individually or in the aggregate, a material adverse effect on its business, financial condition or results of operations, liquidity or cash flows.

Consolidating Financial Informa

Consolidating Financial Information	3 Months Ended
	Mar. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Consolidating Financial Information	CONSOLIDATING FINANCIAL INFORMATION The Operating Partnership’s senior notes were co-issued by the Operating Partnership and MGP Finance Co-Issuer, Inc., a 100% owned finance subsidiary of the Operating Partnership. Obligations to pay principal and interest on the senior notes are currently guaranteed by all of the Operating Partnership’s subsidiaries, other than MGP Finance Co-Issuer, Inc., each of which is directly or indirectly 100% owned by the Operating Partnership. Such guarantees are full and unconditional, and joint and several and are subject to release in accordance with the events described below. Separate condensed financial information for the subsidiary guarantors as of March 31, 2017 and December 31, 2016 and for the three months ended March 31, 2017 are presented below. The guarantee of a subsidiary guarantor will be automatically released upon (i) a sale or other disposition (including by way of consolidation or merger) of the subsidiary guarantor, or the capital stock of the subsidiary guarantor; (ii) the sale or disposition of all or substantially all of the assets of the subsidiary guarantor; (iii) the designation in accordance with the indenture of a subsidiary guarantor as an unrestricted subsidiary; (iv) at such time as such subsidiary guarantor is no longer a subsidiary guarantor or other obligor with respect to any credit facilities or capital markets indebtedness of the Operating Partnership; or (v) defeasance or discharge of the notes. Comparative information for the three months ended March 31, 2016 is not presented because such period precedes the date at which the Operating Partnership and its subsidiaries were formed. The financial information for all periods preceding the formation of the Operating Partnership and its subsidiaries is solely attributable to the Predecessor, which following the IPO Date, has been combined retrospectively with the Operating Partnership and its subsidiaries for all periods, as discussed in Note 2. Consequently, consolidating financial information for periods preceding the formation of the Operating Partnership and its subsidiaries would be presented entirely within the guarantor column and would be the same as the Operating Partnership's combined financial statements. CONSOLIDATING BALANCE SHEET INFORMATION March 31, 2017 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Real estate investments, net $ — $ — $ 9,019,620 $ — $ 9,019,620 Cash and cash equivalents 368,298 — — — 368,298 Tenant and other receivables, net 319 — 4,293 — 4,612 Intercompany 717,674 — — (717,674 ) — Prepaid expenses and other assets 11,154 — — — 11,154 Investments in subsidiaries 8,195,645 — — (8,195,645 ) — Above market lease, asset — — 45,768 — 45,768 $ 9,293,090 $ — $ 9,069,681 $ (8,913,319 ) $ 9,449,452 Debt, net 3,606,973 — — — 3,606,973 Due to MGM Resorts International and affiliates — — 816 — 816 Intercompany — — 717,674 (717,674 ) — Accounts payable, accrued expenses, and other liabilities 2,953 — 1,876 — 4,829 Above market lease, liability — — 47,735 — 47,735 Accrued interest 27,018 — — — 27,018 Distribution payable 94,109 — — — 94,109 Deferred revenue — — 80,567 — 80,567 Deferred income taxes, net — — 25,368 — 25,368 Total liabilities 3,731,053 — 874,036 (717,674 ) 3,887,415 General partner — — — — — Limited partners 5,562,037 — 8,195,645 (8,195,645 ) 5,562,037 Total partners' capital 5,562,037 — 8,195,645 (8,195,645 ) 5,562,037 Total liabilities and partners' capital $ 9,293,090 $ — $ 9,069,681 $ (8,913,319 ) $ 9,449,452 CONSOLIDATING BALANCE SHEET INFORMATION December 31, 2016 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Real estate investments, net $ — $ — $ 9,079,678 $ — $ 9,079,678 Cash and cash equivalents 360,492 — — — 360,492 Tenant and other receivables, net 2,059 — 7,444 — 9,503 Intercompany 880,823 — — (880,823 ) — Prepaid expenses and other assets 9,167 — 1,739 — 10,906 Investments in subsidiaries 8,100,942 — — (8,100,942 ) — Above market lease, asset — — 46,161 — 46,161 $ 9,353,483 $ — $ 9,135,022 $ (8,981,765 ) $ 9,506,740 Debt, net 3,621,942 — — — 3,621,942 Due to MGM Resorts International and affiliates — — 166 — 166 Intercompany — — 880,823 (880,823 ) — Accounts payable, accrued expenses, and other liabilities 3,034 — 7,444 — 10,478 Above market lease, liability — — 47,957 — 47,957 Accrued interest 26,137 — — — 26,137 Distribution payable 94,109 — — — 94,109 Deferred revenue — — 72,322 — 72,322 Deferred income taxes, net — — 25,368 — 25,368 Total liabilities 3,745,222 — 1,034,080 (880,823 ) 3,898,479 General partner — — — — — Limited partners 5,608,261 — 8,100,942 (8,100,942 ) 5,608,261 Total partners' capital 5,608,261 — 8,100,942 (8,100,942 ) 5,608,261 Total liabilities and partners' capital $ 9,353,483 $ — $ 9,135,022 $ (8,981,765 ) $ 9,506,740 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION Three Months Ended March 31, 2017 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Revenues Rental revenue $ — $ — $ 163,177 $ — $ 163,177 Tenants reimbursements and other — — 20,722 — 20,722 — — 183,899 — 183,899 Expenses Depreciation — — 61,684 — 61,684 Property transactions, net — — 6,855 — 6,855 Property taxes — — 20,487 — 20,487 Amortization of above market lease, net — — 171 — 171 General and administrative 2,680 — — — 2,680 2,680 — 89,197 — 91,877 Operating income (loss) (2,680 ) — 94,702 — 92,022 Equity in earnings of subsidiaries 93,464 — — (93,464 ) — Non-operating expense Interest income 678 — — — 678 Interest expense (44,636 ) — — — (44,636 ) Other non-operating (134 ) — — — (134 ) (44,092 ) — — — (44,092 ) Income (loss) before income taxes 46,692 — 94,702 (93,464 ) 47,930 Provision for income taxes — — (1,238 ) — (1,238 ) Net income (loss) $ 46,692 $ — $ 93,464 $ (93,464 ) $ 46,692 Other comprehensive income (loss) Net income (loss) 46,692 — 93,464 (93,464 ) 46,692 Unrealized loss on cash flow hedges (634 ) — — — (634 ) Comprehensive income (loss) $ 46,058 $ — $ 93,464 $ (93,464 ) $ 46,058 CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION Three Months Ended March 31, 2017 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Cash flows from operating activities Net cash provided by (used in) operating activities $ (43,309 ) $ — $ 162,500 $ — $ 119,191 Cash flows from investing activities Net cash used in investing activities — — — — — Cash flows from financing activities Deferred financing costs (526 ) — — — (526 ) Repayment of debt principal (16,750 ) — — — (16,750 ) Distributions paid (94,109 ) — — — (94,109 ) Cash received by Parent on behalf of Guarantor Subsidiaries 162,500 — (162,500 ) — — Net cash provided by (used in) financing activities 51,115 — (162,500 ) — (111,385 ) Cash and cash equivalents Net increase for the period 7,806 — — — 7,806 Balance, beginning of period 360,492 — — — 360,492 Balance, end of period $ 368,298 $ — $ — $ — $ 368,298

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation. The accompanying condensed combined and consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information set forth in the Accounting Standards Codification (“ASC”), as published by the Financial Accounting Standards Board (“FASB”), and with the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. All adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of results for the interim period have been included. For periods prior to the IPO Date, the accompanying condensed combined and consolidated financial statements of MGP represent the IPO Properties, which were controlled by MGM, and have been determined to be MGP’s Predecessor for accounting purposes (the “Predecessor”). The accompanying condensed combined and consolidated financial statements include Predecessor financial statements that have been “carved out” of MGM’s consolidated financial statements and reflect significant assumptions and allocations. The financial statements do not fully reflect what the Predecessor’s results of operations, financial position and cash flows would have been if the Predecessor had been a stand-alone company during the periods presented. As a result, historical financial information is not necessarily indicative of MGP’s future results of operations, financial position and cash flows. For periods subsequent to the IPO Date, the accompanying combined and consolidated financial statements of MGP represent the results of operations, financial positions and cash flows of MGP and the Operating Partnership, including their respective subsidiaries. The accompanying combined and consolidated financial statements of the Operating Partnership represent the results of operation, financial positions, and cash flows of the Operating Partnership including its subsidiaries. The accompanying condensed combined and consolidated financial statements and related notes should be read in conjunction with the audited financial statements and notes thereto included in the Company's most recent Annual Report on Form 10-K.
Principles of consolidation	Principles of consolidation. The Company identifies entities for which control is achieved through means other than voting rights and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is an entity in which either (i) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of such entity that most significantly impact such entity’s economic performance or (ii) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support. The Company identifies the primary beneficiary of a VIE as the enterprise that has both of the following characteristics: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or receive benefits of the VIE that could potentially be significant to the entity. The Company consolidates its investment in a VIE when it determines that it is its primary beneficiary. The Company may change its original assessment of a VIE upon subsequent events such as the modification of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposition of all or a portion of an interest held by the primary beneficiary. The Company performs this analysis on an ongoing basis. The condensed combined and consolidated financial statements include the accounts of the Operating Partnership, a VIE of which the Company is the primary beneficiary, as well as its wholly owned and majority-owned subsidiaries. The Company’s maximum exposure to loss is the carrying value of the assets and liabilities of the Operating Partnership, which represents all of the Company’s assets and liabilities. As the Company holds what is deemed a majority voting interest in the Operating Partnership through its ownership of the Operating Partnership’s sole general partner, it qualifies for the exemption from providing certain of the required disclosures associated with investments in VIEs. For entities not determined to be VIEs, the Company consolidates such entities in which the Company owns 100% of the equity. For entities in which the Company owns less than 100% of the equity interest, the Company consolidates the entity if it has the direct or indirect ability to control the entities’ activities based upon the terms of the respective entities’ ownership agreements. For these entities, the Company records a noncontrolling interest on the condensed consolidated balance sheets. All intercompany balances and transactions are eliminated in consolidation.
Noncontrolling interest	Noncontrolling interest. The Company presents noncontrolling interest and classifies such interest as a component of consolidated shareholders’ equity, separate from the Company’s Class A shareholders’ equity. Noncontrolling interest in the Company represents Operating Partnership units currently held by subsidiaries of MGM. Net income or loss of the Operating Partnership is allocated to its noncontrolling interest based on the noncontrolling interest’s ownership percentage in the Operating Partnership except for income tax expenses. Ownership percentage is calculated by dividing the number of Operating Partnership units held by the noncontrolling interest by the total Operating Partnership units held by the noncontrolling interest and the Company. Issuance of additional Class A shares and Operating Partnership units changes the ownership interests of both the noncontrolling interest and the Company. Such transactions and the related proceeds are treated as capital transactions. MGM may tender its Operating Partnership units for redemption by the Operating Partnership in exchange for cash equal to the market price of MGP’s Class A shares at the time of redemption or for unregistered Class A shares on a one-for-one basis. Such selection to pay cash or issue Class A shares to satisfy an Operating Partnership unitholder’s redemption request is solely within the control of MGP’s independent conflicts committee.
Use of estimates	Use of estimates. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company’s most significant assumptions and estimates relate to the useful lives of real estate assets, real estate impairment assessments. These estimates are based on historical experience and other assumptions which management believes are reasonable under the circumstances. Management evaluates its estimates on an ongoing basis and makes revisions to these estimates and related disclosures as experience develops or new information becomes known. Actual results could differ from these estimates.
Real estate investments	Real estate investments. Real estate investments consist of land, buildings, improvements and integral equipment. Because the Formation Transactions and the Borgata Transaction (as defined below) represent transactions between entities under common control, such real estate was initially recorded by the Company at MGM’s historical cost basis, less accumulated depreciation (i.e., there was no change in the basis of the contributed assets), as of the IPO Date and the date of the consummation of the Borgata Transaction, respectively. Costs of maintenance and repairs to real estate investments are the responsibility of the Tenant under the Master Lease. Although the Tenant is responsible for all capital expenditures during the term of the Master Lease, if, in the future, a deconsolidation event occurs, the Company will be required to pay the Tenant, should the Tenant so elect, for certain capital improvements that would not constitute “normal tenant improvements” in accordance with U.S. GAAP (“Non-Normal Tenant Improvements”), subject to an initial cap of $100 million in the first year of the Master Lease increasing annually by $75 million each year thereafter. The Company will be entitled to receive additional rent based on the 10 -year Treasury yield plus 600 basis points multiplied by the value of the new capital improvements the Company is required to pay for in connection with a deconsolidation event and such capital improvements will be subject to the terms of the Master Lease. Examples of Non-Normal Tenant Improvements include the costs of structural elements at the properties, including capital improvements that expand the footprint or square footage of any of the properties or extend the useful life of the properties, as well as equipment that would be a necessary improvement at any of the properties, including initial installation of elevators, air conditioning systems or electrical wiring. Such Non-Normal Tenant Improvements are capitalized and depreciated over the asset’s remaining life. Non-Normal Tenant Improvements were $80.9 million as of March 31, 2017 . In accordance with accounting standards governing the impairment or disposal of long-lived assets, the carrying value of long-lived assets, including land, buildings and improvements, land improvements and integral equipment is evaluated whenever events or changes in circumstances indicate that a potential impairment has occurred relative to a given asset or assets. Factors that could result in an impairment review include, but are not limited to, a current period cash flow loss combined with a history of cash flow losses, current cash flows that may be insufficient to recover the investment in the property over the remaining useful life, a projection that demonstrates continuing losses associated with the use of a long-lived asset, significant changes in the manner of use of the assets or significant changes in business strategies. If such circumstances arise, the Company uses an estimate of the undiscounted value of expected future operating cash flows to determine whether the long-lived assets are impaired. If the aggregate undiscounted cash flows plus net proceeds expected from disposition of the asset (if any) are less than the carrying amount of the assets, the resulting impairment charge to be recorded is calculated based on the excess of the carrying value of the assets over the fair value of such assets, with the fair value determined based on an estimate of discounted future cash flows, appraisals or other valuation techniques. There were no impairment charges related to long-lived assets recognized during the three months ended March 31, 2017 or 2016 .
Cash and cash equivalents	Cash and cash equivalents. Cash and cash equivalents include investments and interest bearing instruments with maturities of 90 days or less at the date of acquisition. Such investments are carried at cost, which approximates market value.
Deferred revenue	Deferred revenue. The Company receives nonmonetary consideration related to Non-Normal Tenant Improvements as they automatically become MGP’s property, and recognizes the cost basis of Non-Normal Tenant Improvements as real estate investments and deferred revenue. The Company depreciates the real estate investments over their estimated useful lives and amortizes the deferred revenue as additional rental revenue over the remaining term of the Master Lease once the related real estate assets are placed in service.
Revenue recognition	Revenue recognition. Rental revenue under the Master Lease is recognized on a straight-line basis over the non-cancelable term and reasonably assured renewal periods, which includes the initial lease term of 10 years and all four additional five -year terms under the Master Lease, for all contractual revenues that are determined to be fixed and measurable. The difference between such rental revenue earned and the cash rent due under the provisions of the Master Lease is recorded as deferred rent receivable and included as a component of prepaid expenses and other assets, or as deferred revenue if cash rent due exceeds rental revenue earned. Property tax reimbursements from Tenant arise from the triple-net structure of the Master Lease which provides for the recovery of property taxes, which are paid by the Company on behalf of the Tenant. This revenue is recognized in the same periods as the expense is incurred.
Depreciation and property transactions	epreciation and property transactions. Depreciation expense is recognized over the useful lives of real estate applying the straight-line method. Useful lives are periodically reviewed. Leased real estate and leasehold improvements are depreciated on a straight-line basis over the following estimated useful lives: Buildings and building improvements 20 to 40 years Land improvements 10 to 20 years Fixtures and integral equipment 3 to 20 years Property transactions, net are comprised of transactions related to long-lived assets, such as normal losses on the disposition of assets.
General and administrative	General and administrative. General and administrative expenses include the salaries and benefits of employees and external consulting costs. In addition, pursuant to a corporate services agreement entered into on the IPO Date between the Operating Partnership and MGM (the “Corporate Services Agreement”), MGM provides the Operating Partnership and its subsidiaries with financial, administrative and operational support services, including accounting and finance support, human resources support, legal and regulatory compliance support, insurance advisory services, internal audit services, governmental affairs monitoring and reporting services, information technology support, construction services and various other support services. MGM is reimbursed for all costs it incurs directly related to providing the services thereunder.
Share-based compensation	Share-based compensation. The Company recognizes share-based compensation awards as compensation expense and includes such expense within general and administrative expense in the condensed combined and consolidated statement of operations. Compensation expense, net of estimated forfeitures, for restricted share unit awards is based on the fair value of MGP’s Class A shares at the date of grant and is generally recognized ratably over the vesting period. For ratable awards, the Company recognized compensation costs for all grants on a straight-line basis over the requisite service period of the entire award. Compensation expense for performance share unit awards, which have market conditions, is based on a Monte Carlo simulation at the date of grant and is generally recognized ratably over the vesting period.
Income tax provision	Income tax provision. For interim income tax reporting the Company estimates its annual effective tax rate and applies it to its year-to-date ordinary income. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur. The Company’s effective income tax rate was 2.6% for the three months ended March 31, 2017. The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company will elect to be treated as a REIT as defined under Section 856(a) of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with its taxable year ended December 31, 2016. To qualify as a REIT, the Company must meet certain organizational, income, asset and distribution tests. Accordingly, except as described below, the Company will generally not be subject to corporate U.S. federal or state income tax to the extent that it makes qualifying distributions of all of its taxable income to its shareholders and provided it satisfies on a continuing basis, through actual investment and operating results, the REIT requirements, including certain asset, income, distribution and share ownership tests. U.S. federal income tax law generally requires that a REIT distribute annually at least 90% of its REIT taxable income, without regard to the deduction for dividends paid and excluding net capital gains, and that it pay taxes at regular corporate income tax rates to the extent that it annually distributes less than 100% of its taxable income. The Company distributed 100% of its taxable income in the taxable year ended December 31, 2016 and anticipates that it will do so again in the taxable year ending December 31, 2017. Accordingly, for periods subsequent to the IPO Date, the accompanying condensed combined and consolidated financial statements do not reflect a provision for federal income taxes. However, the Company may still be subject to federal excise tax, as well as certain state and local income and franchise taxes. The Landlord is required to join in the filing of a New Jersey consolidated corporation business tax return under the New Jersey Casino Control Act and include in such return its income and expenses associated with its New Jersey assets and is thus subject to an entity level tax in New Jersey. Although the consolidated New Jersey return also includes MGM and certain of its subsidiaries, the Company is required to record New Jersey state income taxes in the accompanying financial statements as if the Landlord was taxed for state purposes on a stand-alone basis. The Company and MGM have entered into a tax sharing agreement providing for an allocation of taxes due in the consolidated New Jersey return. Pursuant to this agreement, the Landlord will only be responsible for New Jersey taxes on any gain that may be realized upon a future sale of the New Jersey assets resulting solely from an appreciation in value of such assets over their value on the date they were contributed to the Landlord by a subsidiary of MGM. MGM is responsible for all other taxes reported in the New Jersey consolidated return. No amounts are due to MGM under the tax sharing agreement as of March 31, 2017. Accordingly, the provision for current taxes and the deferred tax liability in the accompanying financial statements are attributable to noncontrolling interest since the payment of such taxes are the responsibility of MGM. The Company was included in the consolidated or unitary income tax returns of MGM for all Predecessor periods. In the accompanying financial statements, the Predecessor periods reflect an allocation of income taxes from MGM as if the company’s Predecessor had filed a separate tax return in those periods.
Net income per share or unit	Net income per share. Basic net income per share includes only the weighted average number of Class A shares outstanding during the period. Dilutive net income per share includes the weighted average number of Class A shares and the dilutive effect of share-based compensation awards outstanding during the period, when such awards are dilutive. Net income per unit. Basic net income per unit includes only the weighted average number of Operating Partnership units outstanding during the period. Dilutive net income per unit includes the weighted average number of Operating Partnership units and the dilutive effect of share-based compensation awards outstanding during the period, when such awards are dilutive.
Deferred financing costs	Deferred financing costs. Deferred financing costs were incurred in connection with the issuance of the term loan facilities, revolving credit facility and senior notes. Costs incurred in connection with term loan facilities and senior notes are capitalized and offset against the carrying amount of the related indebtedness. These costs are amortized over the term of the related indebtedness, and are included in interest expense in the combined and consolidated statement of operations. Costs incurred in connection with the Operating Partnership’s entrance into the revolving credit facility are capitalized as a component of prepaid expenses and other assets. These costs are amortized over the term of the revolving credit facility, and are included in interest expense in the combined and consolidated statement of operations.
Fair value measurements	Fair value measurements . Fair value measurements are utilized in accounting for testing of long-lived assets for impairment. Fair value of financial and nonfinancial assets and liabilities is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The three-tier hierarchy for inputs used in measuring fair value, which prioritizes the inputs used in the methodologies of measuring fair value for assets and liabilities, is as follows: Level 1—Observable inputs for identical instruments such as quoted market prices; Level 2—Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.) and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs); and Level 3—Unobservable inputs that reflect the Company’s determination of assumptions that market participants would use in pricing the asset or liability. These inputs are developed based on the best information available, including management’s own data. The fair value of the Company’s cash and cash equivalents, accounts payable and accrued expenses approximate their carrying value because of the short-term nature of these instruments.
Reportable segment	Reportable segment. The Company’s real estate properties are similar in that they consist of large-scale destination entertainment and leisure resorts and related offerings, whose tenants generally offer casino gaming, hotel, convention, dining, entertainment and retail, are held by a subsidiary of the Operating Partnership, have similar economic characteristics and are governed under a single Master Lease. As such, the properties are reported as one reportable segment.
Concentrations of credit risk	Concentrations of credit risk. All of the Company’s real estate properties have been leased to a wholly owned subsidiary of MGM, and all of MGP’s revenues are derived from the Master Lease. MGM is a publicly traded company and is subject to the filing requirements of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), and is required to file periodic reports on Form 10-K and Form 10-Q with the SEC. Refer to www.edgar.gov for MGM’s publicly available financial information (which financial information is not incorporated by reference herein). Management does not believe there are any other significant concentrations of credit risk.
Geographical risk	Geographical risk. The majority of the Company’s real estate properties are located in Las Vegas, Nevada. Accordingly, future negative trends in local economic activity or natural disasters in this area might have a more significant effect on the Company than a more geographically diversified entity and could have an adverse impact on its financial condition and operating results.
Recently issued accounting standards	Recently issued accounting standards. In January 2017, the Company adopted Accounting Standards Update No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 simplifies the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The adoption of ASU 2016-09 did not have a material effect on the Company’s financial statements and footnote disclosures. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which replaces the existing guidance in FASB ASC Topic 840, Leases . ASU 2016-02 requires a dual approach for lessee accounting under which a lessee would account for leases as finance leases or operating leases. Both finance leases and operating leases will result in the lessee recognizing a right-of-use (“ROU”) asset and a corresponding lease liability. For finance leases the lessee would recognize interest expense and amortization of the ROU asset and for operating leases the lessee would recognize a straight-line total lease expense. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently in the process of determining the method of adoption and assessing the impact that adoption of this guidance will have on its financial statements and footnote disclosures. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, Revenue From Contracts With Customers (Topic 606): Deferral of the Effective Date , which defers the effective date of Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers (“ASU 2014-09”) to the fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. ASU 2014-09 outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This new revenue recognition model provides a five-step analysis in determining when and how revenue is recognized. Additionally, the new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. The adoption of ASU 2015-14 will not have a material impact on the Company's financial statements and footnote disclosures.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Estimated Useful Lives of Real Estate Investments	Leased real estate and leasehold improvements are depreciated on a straight-line basis over the following estimated useful lives: Buildings and building improvements 20 to 40 years Land improvements 10 to 20 years Fixtures and integral equipment 3 to 20 years
Schedule of Principal Amount and Fair Value of Other Financial Instruments	The principal amount and fair value of other financial instruments are as follows: March 31, 2017 Total Level 1 Level 2 Level 3 (in thousands) Assets: Derivative asset - interest rate swaps $ 2,770 $ — $ 2,770 $ — Liabilities: Senior secured credit facility: Senior secured term loan A facility 285,000 285,000 Senior secured term loan B facility 1,842,947 1,842,947 Senior secured revolving credit facility — — $1,050 million 5.625% senior notes, due 2024 1,110,375 1,110,375 $500 million 4.50% senior notes, due 2026 484,375 484,375 Derivative liability - interest rate swaps 1,525 1,525 $ 3,724,222 $ — $ 3,724,222 $ —

Real Estate Investments (Tables

Real Estate Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Real Estate [Abstract]
Schedule of Carrying Value of Real Estate Investments	The carrying value of real estate investments is as follows: March 31, 2017 December 31, 2016 (in thousands) Land $ 4,143,513 $ 4,143,513 Buildings, building improvements, land improvements and integral equipment 7,324,486 7,324,657 11,467,999 11,468,170 Less: Accumulated depreciation (2,448,379 ) (2,388,492 ) $ 9,019,620 $ 9,079,678

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2017
Leases [Abstract]
Summary of Future Noncancelable Minimum Rental Payments under Master Lease	Under the Master Lease, remaining noncancelable minimum rental payments as of March 31, 2017 are as follows: Year ending December 31, (in thousands) 2017 $ 496,275 2018 670,651 2019 682,764 2020 695,119 2021 707,721 2022 662,137 Thereafter 2,099,134

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Debt	Debt consists of the following: March 31, December 31, 2017 2016 (in thousands) Senior secured credit facility: Senior secured term loan A facility $ 285,000 $ 292,500 Senior secured term loan B facility 1,831,500 1,840,750 Senior secured revolving credit facility — — $1,050 million 5.625% senior notes, due 2024 1,050,000 1,050,000 $500 million 4.50% senior notes, due 2026 500,000 500,000 3,666,500 3,683,250 Less: Unamortized discount and debt issuance costs (59,527 ) (61,308 ) $ 3,606,973 $ 3,621,942
Schedule of Maturities of Debt	Maturities of debt. Maturities of the principal amount of the Company’s debt as of March 31, 2017 are as follows: Year ending December 31, ( in thousands ) 2017 $ 25,125 2018 33,500 2019 33,500 2020 33,500 2021 247,250 Thereafter 3,293,625 $ 3,666,500

Derivatives and Hedging Activ25

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Derivative Instruments	The Operating Partnership is party to interest rate swaps to mitigate the interest rate risk inherent in its senior secured term loan B facility. The principal terms of these interest rate swaps at March 31, 2017 are as follows: Fair Value Asset (Liability) Effective Date Maturity Date Notional Amount Fixed Rate March 31, 2017 December 31, 2016 (in thousands, except percentages) December 8, 2016 November 30, 2021 $ 500,000 1.825 % $ 2,770 $ 1,879 January 31, 2017 November 30, 2021 700,000 1.964 % (1,525 ) N/A $ 1,200,000 $ 1,245 $ 1,879

Shareholders' Equity and Part26

Shareholders' Equity and Partners' Capital (Tables)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Schedule of Stockholders' Equity	The following table presents MGP's changes in shareholders' equity for the three months ended March 31, 2017 : Class A Additional Accumulated Other Comprehensive Income Total Shareholders' Equity Non-controlling Total (in thousands, except per share amounts) Balance at January 1, 2017 $ — $ 1,363,130 $ (29,758 ) $ 445 1,333,817 $ 4,274,444 $ 5,608,261 Net income - January 1, 2017 to March 31, 2017 — — 11,348 — 11,348 35,344 46,692 Other comprehensive loss - cash flow hedges — — — (150 ) (150 ) (484 ) (634 ) Share-based compensation — 44 — — 44 144 188 Deemed contribution - tax sharing agreement — 1,238 1,238 Dividends declared, $0.3875 per Class A share — — (22,282 ) — (22,282 ) (71,827 ) (94,109 ) Other — 96 — — 96 305 401 Balance at March 31, 2017 $ — $ 1,363,270 $ (40,692 ) $ 295 $ 1,322,873 $ 4,239,164 $ 5,562,037
Schedule of Partners' Capital	The following table presents the Operating Partnership's changes in partners' capital for the three months ended March 31, 2017 : General Partner Limited Partner Total Partners' Capital (in thousands, except per unit amounts) Balance at January 1, 2017 $ — $ 5,608,261 $ 5,608,261 Net income - January 1, 2017 to March 31, 2017 — 46,692 46,692 Other comprehensive loss - cash flow hedges — (634 ) (634 ) Share-based compensation — 188 188 Deemed contribution - tax sharing agreement — 1,238 1,238 Distributions declared, $0.3875 per Operating Partnership unit — (94,109 ) (94,109 ) Other — 401 401 Balance at March 31, 2017 $ — $ 5,562,037 $ 5,562,037

Accumulated Other Comprehensi27

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Summary of Accumulated Other Comprehensive Income	The following table summarizes the changes in accumulated other comprehensive income by component for the three months ended March 31, 2017 (there was no other comprehensive income for the three months ended March 31, 2016 ): Changes in Fair Value of Effective Cash Flow Hedge Total (in thousands) Balance at December 31, 2016 $ 1,879 $ 1,879 Other comprehensive income before reclassifications 2,052 2,052 Amounts reclassified from accumulated other comprehensive income (2,686 ) (2,686 ) Net current period other comprehensive loss (634 ) (634 ) Balance at March 31, 2017 1,245 1,245 Accumulated other comprehensive (income) attributable to noncontrolling interest (950 ) (950 ) Accumulated other comprehensive income attributable to Class A shareholders $ 295 $ 295

Net Income Per Class A Share (T

Net Income Per Class A Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of Net Income and Number of Class A Shares Used in the Calculation of Basic and Diluted Income Per Share	The table below provides net income and the number of Class A shares used in the computations of “basic” net income per share, which utilizes the weighted-average number of Class A shares outstanding without regard to dilutive potential Class A shares, and “diluted” net income per share, which includes all such shares. Net income attributable to Class A shares, weighted average Class A shares outstanding and the effect of dilutive securities outstanding are presented for the three months ended March 31, 2017. Net income per share has not been presented for the Class B shareholder as the Class B share is not entitled to any economic rights. Three Months Ended March 31, 2017 (in thousands, except share and per share amounts) Basic net income per share Numerator: Net income attributable to Class A shares $ 11,348 Denominator: Basic weighted average Class A shares outstanding 57,506,195 Basic net income per Class A share $ 0.20 Three Months Ended March 31, 2017 (in thousands, except share and per share amounts) Diluted net income per share Numerator: Net income attributable to Class A shares $ 11,348 Denominator: Basic weighted average Class A shares outstanding 57,506,195 Effect of dilutive shares for diluted net income per Class A share 278,045 Weighted average shares for diluted net income per Class A share 57,784,240 Diluted net income per Class A share $ 0.20 Three Months Ended March 31, 2017 (in thousands, except unit and per unit amounts) Basic net income per Operating Partnership unit Numerator: Net income $ 46,692 Denominator: Basic weighted average Operating Partnership units outstanding 242,868,331 Basic net income per Operating Partnership unit $ 0.19 Three Months Ended March 31, 2017 (in thousands, except unit and per unit amounts) Diluted net income per Operating Partnership unit Numerator: Net income $ 46,692 Denominator: Basic weighted average Operating Partnership units outstanding 242,868,331 Effect of dilutive shares for diluted net income per Operating Partnership unit 278,045 Weighted average shares for diluted net income per Operating Partnership unit 243,146,376 Diluted net income per Operating Partnership unit $ 0.19

Net Income Per Operating Patn29

Net Income Per Operating Patnership Unit (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Unit, Basic and Diluted	The table below provides net income and the number of Class A shares used in the computations of “basic” net income per share, which utilizes the weighted-average number of Class A shares outstanding without regard to dilutive potential Class A shares, and “diluted” net income per share, which includes all such shares. Net income attributable to Class A shares, weighted average Class A shares outstanding and the effect of dilutive securities outstanding are presented for the three months ended March 31, 2017. Net income per share has not been presented for the Class B shareholder as the Class B share is not entitled to any economic rights. Three Months Ended March 31, 2017 (in thousands, except share and per share amounts) Basic net income per share Numerator: Net income attributable to Class A shares $ 11,348 Denominator: Basic weighted average Class A shares outstanding 57,506,195 Basic net income per Class A share $ 0.20 Three Months Ended March 31, 2017 (in thousands, except share and per share amounts) Diluted net income per share Numerator: Net income attributable to Class A shares $ 11,348 Denominator: Basic weighted average Class A shares outstanding 57,506,195 Effect of dilutive shares for diluted net income per Class A share 278,045 Weighted average shares for diluted net income per Class A share 57,784,240 Diluted net income per Class A share $ 0.20 Three Months Ended March 31, 2017 (in thousands, except unit and per unit amounts) Basic net income per Operating Partnership unit Numerator: Net income $ 46,692 Denominator: Basic weighted average Operating Partnership units outstanding 242,868,331 Basic net income per Operating Partnership unit $ 0.19 Three Months Ended March 31, 2017 (in thousands, except unit and per unit amounts) Diluted net income per Operating Partnership unit Numerator: Net income $ 46,692 Denominator: Basic weighted average Operating Partnership units outstanding 242,868,331 Effect of dilutive shares for diluted net income per Operating Partnership unit 278,045 Weighted average shares for diluted net income per Operating Partnership unit 243,146,376 Diluted net income per Operating Partnership unit $ 0.19

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Estimated Minimum Lease Payments	Estimated minimum lease payments pursuant to the ground leases through 2070 are as follows: (in thousands) Year ending December 31, 2017 $ 4,816 2018 6,688 2019 6,688 2020 7,014 2021 7,027 Thereafter 703,516 Total minimum lease payments $ 735,749

Consolidating Financial Infor31

Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Consolidating Balance Sheet Information	CONSOLIDATING BALANCE SHEET INFORMATION March 31, 2017 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Real estate investments, net $ — $ — $ 9,019,620 $ — $ 9,019,620 Cash and cash equivalents 368,298 — — — 368,298 Tenant and other receivables, net 319 — 4,293 — 4,612 Intercompany 717,674 — — (717,674 ) — Prepaid expenses and other assets 11,154 — — — 11,154 Investments in subsidiaries 8,195,645 — — (8,195,645 ) — Above market lease, asset — — 45,768 — 45,768 $ 9,293,090 $ — $ 9,069,681 $ (8,913,319 ) $ 9,449,452 Debt, net 3,606,973 — — — 3,606,973 Due to MGM Resorts International and affiliates — — 816 — 816 Intercompany — — 717,674 (717,674 ) — Accounts payable, accrued expenses, and other liabilities 2,953 — 1,876 — 4,829 Above market lease, liability — — 47,735 — 47,735 Accrued interest 27,018 — — — 27,018 Distribution payable 94,109 — — — 94,109 Deferred revenue — — 80,567 — 80,567 Deferred income taxes, net — — 25,368 — 25,368 Total liabilities 3,731,053 — 874,036 (717,674 ) 3,887,415 General partner — — — — — Limited partners 5,562,037 — 8,195,645 (8,195,645 ) 5,562,037 Total partners' capital 5,562,037 — 8,195,645 (8,195,645 ) 5,562,037 Total liabilities and partners' capital $ 9,293,090 $ — $ 9,069,681 $ (8,913,319 ) $ 9,449,452 CONSOLIDATING BALANCE SHEET INFORMATION December 31, 2016 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Real estate investments, net $ — $ — $ 9,079,678 $ — $ 9,079,678 Cash and cash equivalents 360,492 — — — 360,492 Tenant and other receivables, net 2,059 — 7,444 — 9,503 Intercompany 880,823 — — (880,823 ) — Prepaid expenses and other assets 9,167 — 1,739 — 10,906 Investments in subsidiaries 8,100,942 — — (8,100,942 ) — Above market lease, asset — — 46,161 — 46,161 $ 9,353,483 $ — $ 9,135,022 $ (8,981,765 ) $ 9,506,740 Debt, net 3,621,942 — — — 3,621,942 Due to MGM Resorts International and affiliates — — 166 — 166 Intercompany — — 880,823 (880,823 ) — Accounts payable, accrued expenses, and other liabilities 3,034 — 7,444 — 10,478 Above market lease, liability — — 47,957 — 47,957 Accrued interest 26,137 — — — 26,137 Distribution payable 94,109 — — — 94,109 Deferred revenue — — 72,322 — 72,322 Deferred income taxes, net — — 25,368 — 25,368 Total liabilities 3,745,222 — 1,034,080 (880,823 ) 3,898,479 General partner — — — — — Limited partners 5,608,261 — 8,100,942 (8,100,942 ) 5,608,261 Total partners' capital 5,608,261 — 8,100,942 (8,100,942 ) 5,608,261 Total liabilities and partners' capital $ 9,353,483 $ — $ 9,135,022 $ (8,981,765 ) $ 9,506,740
Consolidating Statement of Operations and Comprehensive Income Information	CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION Three Months Ended March 31, 2017 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Revenues Rental revenue $ — $ — $ 163,177 $ — $ 163,177 Tenants reimbursements and other — — 20,722 — 20,722 — — 183,899 — 183,899 Expenses Depreciation — — 61,684 — 61,684 Property transactions, net — — 6,855 — 6,855 Property taxes — — 20,487 — 20,487 Amortization of above market lease, net — — 171 — 171 General and administrative 2,680 — — — 2,680 2,680 — 89,197 — 91,877 Operating income (loss) (2,680 ) — 94,702 — 92,022 Equity in earnings of subsidiaries 93,464 — — (93,464 ) — Non-operating expense Interest income 678 — — — 678 Interest expense (44,636 ) — — — (44,636 ) Other non-operating (134 ) — — — (134 ) (44,092 ) — — — (44,092 ) Income (loss) before income taxes 46,692 — 94,702 (93,464 ) 47,930 Provision for income taxes — — (1,238 ) — (1,238 ) Net income (loss) $ 46,692 $ — $ 93,464 $ (93,464 ) $ 46,692 Other comprehensive income (loss) Net income (loss) 46,692 — 93,464 (93,464 ) 46,692 Unrealized loss on cash flow hedges (634 ) — — — (634 ) Comprehensive income (loss) $ 46,058 $ — $ 93,464 $ (93,464 ) $ 46,058
Consolidating Statement of Cash Flows Information	CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION Three Months Ended March 31, 2017 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Cash flows from operating activities Net cash provided by (used in) operating activities $ (43,309 ) $ — $ 162,500 $ — $ 119,191 Cash flows from investing activities Net cash used in investing activities — — — — — Cash flows from financing activities Deferred financing costs (526 ) — — — (526 ) Repayment of debt principal (16,750 ) — — — (16,750 ) Distributions paid (94,109 ) — — — (94,109 ) Cash received by Parent on behalf of Guarantor Subsidiaries 162,500 — (162,500 ) — — Net cash provided by (used in) financing activities 51,115 — (162,500 ) — (111,385 ) Cash and cash equivalents Net increase for the period 7,806 — — — 7,806 Balance, beginning of period 360,492 — — — 360,492 Balance, end of period $ 368,298 $ — $ — $ — $ 368,298

Business - Narrative (Detail)

Business - Narrative (Detail) $ / shares in Units, $ in Billions	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Business And Organization [Line Items]
Ownership interest transferred	100.00%
MGP Operating Partnership
Business And Organization [Line Items]
Deb facilities assumed from Parent | $	$ 4
MGM
Business And Organization [Line Items]
Ownership interest in operating partnership	73.30%
MGM | Borgata
Business And Organization [Line Items]
Increase in ownership interest in operating partnership	76.30%
IPO
Business And Organization [Line Items]
Initial offering price per share | $ / shares	$ 21
Ownership percentage acquired	26.70%
IPO | Borgata
Business And Organization [Line Items]
Reduction in ownership percentage acquired	23.70%
IPO | Class A Shares
Business And Organization [Line Items]
Shares issued under initial public offering (in shares)	57,500,000
Over-Allotment Option | Class A Shares
Business And Organization [Line Items]
Shares issued under initial public offering (in shares)	7,500,000
Operating Partnership Units to MGP's Class A Shares
Business And Organization [Line Items]
Operating Partnership unit conversion	1

Summary of Significant Accoun33

Summary of Significant Accounting Policies - Narrative (Detail)	3 Months Ended
	Mar. 31, 2017USD ($)segmentterm	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
Summary Of Significant Accounting Policies [Line Items]
Treasury yield term	10 years
Additional rent, percentage points used in calculation	6.00%
Non-normal tenant improvements	$ 80,900,000
Impairment charges	$ 0	$ 0
Number of times lease term, extended | term	4
Effective tax rate	2.60%
Amortization of deferred financing costs	$ 2,800,000
Long-term debt, Gross	3,666,500,000		$ 3,683,250,000
Debt, fair value	$ 3,700,000,000
Number of reportable segments | segment	1
Tenant
Summary Of Significant Accounting Policies [Line Items]
Initial cap of non-normal tenant improvements in the first year	$ 100,000,000
Annual increase in non-normal tenant improvements	$ 75,000,000
Master lease, initial lease term	10 years
Additional period of extension in lease contract	5 years
Corporate Services Agreement
Summary Of Significant Accounting Policies [Line Items]
Expenses incurred	$ 400,000

Summary of Significant Accoun34

Summary of Significant Accounting Policies - Estimated Useful Lives of Real Estate Investments (Detail)	3 Months Ended
	Mar. 31, 2017
Minimum | Buildings and building improvements
Property Subject to or Available for Operating Lease [Line Items]
Estimated useful lives	20 years
Minimum | Land improvements
Property Subject to or Available for Operating Lease [Line Items]
Estimated useful lives	10 years
Minimum | Fixtures and integral equipment
Property Subject to or Available for Operating Lease [Line Items]
Estimated useful lives	3 years
Maximum | Buildings and building improvements
Property Subject to or Available for Operating Lease [Line Items]
Estimated useful lives	40 years
Maximum | Land improvements
Property Subject to or Available for Operating Lease [Line Items]
Estimated useful lives	20 years
Maximum | Fixtures and integral equipment
Property Subject to or Available for Operating Lease [Line Items]
Estimated useful lives	20 years

Summary of Significant Accoun35

Summary of Significant Accounting Policies - Schedule of Principal Amount and Fair Value of Other Financial Instruments (Detail)	Mar. 31, 2017USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset - interest rate swaps	$ 2,770,000
Derivative liability - interest rate swaps	1,525,000
Liabilities, fair value	3,724,222,000
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities, fair value	0
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset - interest rate swaps	2,770,000
Derivative liability - interest rate swaps	1,525,000
Liabilities, fair value	3,724,222,000
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities, fair value	0
Senior secured term loan A facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured credit facility	285,000,000
Senior secured term loan A facility | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured credit facility	285,000,000
Senior secured term loan B facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured credit facility	1,842,947,000
Senior secured term loan B facility | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured credit facility	1,842,947,000
Senior secured revolving credit facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured credit facility	0
Senior secured revolving credit facility | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured credit facility	0
5.625% Senior Notes due 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	1,110,375,000
Aggregate principal amount of senior notes	$ 1,050,000,000
Interest rate on senior notes	5.625%
5.625% Senior Notes due 2024 | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal amount of senior notes	$ 1,050,000,000
Interest rate on senior notes	5.625%
5.625% Senior Notes due 2024 | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 1,110,375,000
4.50% Senior Notes due 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	484,375,000
Aggregate principal amount of senior notes	$ 500,000,000
Interest rate on senior notes	4.50%
4.50% Senior Notes due 2026 | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal amount of senior notes	$ 500,000,000
Interest rate on senior notes	4.50%
4.50% Senior Notes due 2026 | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 484,375,000

Borgata Transaction - Narrative

Borgata Transaction - Narrative (Detail) shares in Millions	Aug. 01, 2016USD ($)ashares	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Revised rent payments due under master lease		$ 650,000,000
Business combination, liabilities assumed	$ 545,000,000
Total deferred tax liability		25,368,000	$ 25,368,000
Master Lease Base Rent
Business Acquisition [Line Items]
Revised rent payments due under master lease	585,000,000	585,000,000
Borgata Property | Master Lease Increase in Rent
Business Acquisition [Line Items]
Rental revenues under master lease	100,000,000
Borgata Property | Increase in Base Rent
Business Acquisition [Line Items]
Rental revenues under master lease	90,000,000
Borgata Property | Increase in Percentage Rent
Business Acquisition [Line Items]
Rental revenues under master lease	10,000,000
Borgata Property | Master Lease Percentage Rent
Business Acquisition [Line Items]
Revised rent payments due under master lease	$ 65,000,000	65,000,000
Borgata
Business Acquisition [Line Items]
Business combination, operating partnership units issued | shares	27.4
Business combination, total consideration	$ 1,300,000,000
Total deferred tax liability		$ 25,300,000
Land subject to ground leases | a	11

Real Estate Investments - Sched

Real Estate Investments - Schedule of Carrying Value of Real Estate Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Real Estate Properties [Line Items]
Real estate investments, gross	$ 11,467,999	$ 11,468,170
Less: Accumulated depreciation	(2,448,379)	(2,388,492)
Real estate investments, net	9,019,620	9,079,678
Land
Real Estate Properties [Line Items]
Real estate investments, gross	4,143,513	4,143,513
Buildings, building improvements, land improvements and integral equipment
Real Estate Properties [Line Items]
Real estate investments, gross	$ 7,324,486	$ 7,324,657

Leases - Narrative (Detail)

Leases - Narrative (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)termperiod	Mar. 31, 2016USD ($)	Apr. 01, 2017USD ($)	Aug. 01, 2016USD ($)
Leases [Line Items]
Number of times lease term, extended | term	4
Revised rent payments due under master lease	$ 650,000
Number of years that the percentage rent is fixed	6 years
Adjusted net revenue to rent ratio	625.00%
Number of years that percentage rent is variable	5 years
Number of periods for calculation of variable rent | period	5
Rental revenues	$ 163,177	$ 0
Revenue related to the reimbursement of property taxes paid by the Tenant	20,722	$ 0
Master Lease Base Rent
Leases [Line Items]
Revised rent payments due under master lease	$ 585,000			$ 585,000
Percentage of initial total rent payments due under the master lease	90.00%
Fixed annual rent escalator, percentage	2.00%
Number of years that the percentage rent is fixed	6 years
Master Lease Percentage Rent
Leases [Line Items]
Percentage of initial total rent payments due under the master lease	10.00%
Lease fixed amount adjustment multiplier	1.40%
Master Lease Percentage Rent | Borgata Property
Leases [Line Items]
Revised rent payments due under master lease	$ 65,000			$ 65,000
Master Lease
Leases [Line Items]
Master lease, initial lease term	10 years
Additional period of extension in lease contract	5 years
Rental revenues	$ 163,200
Revenue related to the reimbursement of property taxes paid by the Tenant	$ 20,500
Subsequent Events | Master Lease Base Rent
Leases [Line Items]
Revised rent payments due under master lease			$ 661,700

Leases - Summary of Future Nonc

Leases - Summary of Future Noncancelable Minimum Rental Payments under Master Lease (Detail) $ in Thousands	Mar. 31, 2017USD ($)
Leases [Abstract]
2,017	$ 496,275
2,018	670,651
2,019	682,764
2,020	695,119
2,021	707,721
2,022	662,137
Thereafter	$ 2,099,134

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Detail) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt, Gross	$ 3,666,500,000	$ 3,683,250,000
Less: Unamortized discount and debt issuance costs	(59,527,000)	(61,308,000)
Long-term debt	3,606,973,000	3,621,942,000
Senior secured term loan A facility
Debt Instrument [Line Items]
Senior secured term loan	285,000,000	292,500,000
Senior secured term loan B facility
Debt Instrument [Line Items]
Senior secured term loan	1,831,500,000	1,840,750,000
Senior secured revolving credit facility
Debt Instrument [Line Items]
Long-term debt		0
5.625% Senior Notes due 2024
Debt Instrument [Line Items]
Senior notes	1,050,000,000	1,050,000,000
Long-term debt, principal amount	$ 1,050,000,000
Long-term debt, interest rate (as a percent)	5.625%
4.50% Senior Notes due 2026
Debt Instrument [Line Items]
Senior notes	$ 500,000,000	$ 500,000,000
Long-term debt, principal amount	$ 500,000,000
Long-term debt, interest rate (as a percent)	4.50%

Debt - Narrative (Detail)

Debt - Narrative (Detail) - USD ($)	May 01, 2017	Aug. 12, 2016	Apr. 20, 2016	Feb. 28, 2017	Mar. 31, 2017	Oct. 25, 2016	Dec. 31, 2016	Oct. 26, 2016
Debt Instrument [Line Items]
Debt Instrument, covenant senior secured net debt to adjusted net assets ratio, Maximum							40.00%
Debt instrument, covenant net debt to adjusted net assets ratio, Maximum					65.00%
Debt instrument covenant interest coverage ratio, Minimum					200.00%
Senior secured term loan A facility
Debt Instrument [Line Items]
Senior secured term loan					$ 285,000,000		$ 292,500,000
Senior secured term loan B facility
Debt Instrument [Line Items]
Senior secured term loan					1,831,500,000		1,840,750,000
5.625% Senior Notes due 2024
Debt Instrument [Line Items]
Long-term debt, principal amount					$ 1,050,000,000
Interest rate					5.625%
Senior notes					$ 1,050,000,000		$ 1,050,000,000
Operating Partnership Credit Agreement | Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility amount					600,000,000
Amount drawn under credit facility					$ 0
Operating Partnership Credit Agreement | Senior secured term loan A facility
Debt Instrument [Line Items]
Interest rate					3.73%
Term loan repayment percentage of initial aggregate principal amount					5.00%
Operating Partnership Credit Agreement | Senior secured term loan B facility
Debt Instrument [Line Items]
Percentage of credit facility issued to lenders					99.75%
LIBOR floor rate				0.75%		0.75%
Interest rate					3.48%
Term loan repayment percentage of initial aggregate principal amount					1.00%
Operating Partnership Credit Agreement | LIBOR | Senior secured term loan A facility | Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Variable margin						2.75%
Operating Partnership Credit Agreement | LIBOR | Senior secured term loan A facility | Minimum | Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Variable margin					2.75%	2.25%
Operating Partnership Credit Agreement | LIBOR | Senior secured term loan A facility | Maximum | Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Variable margin					0.75%	2.75%
Operating Partnership Credit Agreement | LIBOR | Senior secured term loan B facility
Debt Instrument [Line Items]
Variable margin				2.50%		3.25%
Operating Partnership Senior Notes | 5.625% Senior Notes due 2024
Debt Instrument [Line Items]
Interest rate			5.625%
Senior notes			$ 1,050,000,000
Debt instrument redemption price percentage			100.00%
Operating Partnership Senior Notes | 4.500% Senior Notes due 2026
Debt Instrument [Line Items]
Interest rate		4.50%
Senior notes		$ 500,000,000
Debt instrument redemption price percentage		100.00%
Line of Credit | Senior secured term loan A facility
Debt Instrument [Line Items]
Long-term debt, principal amount					$ 300,000,000
Line of Credit | Senior secured term loan B facility
Debt Instrument [Line Items]
Long-term debt, principal amount					$ 1,850,000,000			$ 1,840,000,000
Subsequent Events | Operating Partnership Credit Agreement | LIBOR | Senior secured term loan A facility | Minimum | Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Variable margin	2.25%
LIBOR floor rate	0.00%
Subsequent Events | Line of Credit | Senior secured term loan B facility
Debt Instrument [Line Items]
Long-term debt, principal amount	$ 1,832,000,000

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
2,017	$ 25,125
2,018	33,500
2,019	33,500
2,020	33,500
2,021	247,250
Thereafter	3,293,625
Long-term debt, carrying amount	$ 3,666,500	$ 3,683,250

Derivatives and Hedging Activ43

Derivatives and Hedging Activities - Balance Sheet Location for Derivative Instrument (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Interest rate swaps
Derivative [Line Items]
Notional Amount	$ 1,200,000
Fair Value Asset (Liability)	1,245	$ 1,879
Effective Date December 8, 2016
Derivative [Line Items]
Notional Amount	$ 500,000
Fixed Rate	1.825%
Fair Value Asset (Liability)	$ 2,770	$ 1,879
Effective Date January 31, 2017
Derivative [Line Items]
Notional Amount	$ 700,000
Fixed Rate	1.964%
Fair Value Asset (Liability)	$ (1,525)

Derivatives and Hedging Activ44

Derivatives and Hedging Activities - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	May 31, 2017
Derivative [Line Items]
Loss on derivative instrument	$ 634,000	$ 0
Ineffective portion of the change in fair value derivatives	0
Interest expense	44,636,000	$ 0
Interest rate swaps
Derivative [Line Items]
Interest expense	$ 2,700,000
Subsequent Events | Interest rate swaps
Derivative [Line Items]
Fixed Rate			1.844%
Notional Amount			$ 1,200,000,000

Shareholders' Equity and Part45

Shareholders' Equity and Partners' Capital - Narrative (Detail) - USD ($) $ / shares in Units, $ in Millions	Mar. 15, 2017	Mar. 31, 2017	Dec. 31, 2016
Stockholders Equity and Partners Capital [Line Items]
Dividend declared (in usd per share)		$ 0.3875
MGM
Stockholders Equity and Partners Capital [Line Items]
Ownership interest in operating partnership		73.30%
MGP Operating Partnership
Stockholders Equity and Partners Capital [Line Items]
Cash distribution declared (in usd per unit)	$ 0.3875	$ 0.3875
Dividends declared | MGP Operating Partnership
Stockholders Equity and Partners Capital [Line Items]
Common stock, dividend	$ 94.1
Class A Shares
Stockholders Equity and Partners Capital [Line Items]
Common stock shares, par value		0	$ 0
Dividend declared (in usd per share)		$ 0.3875
Class A Shares | Dividends declared
Stockholders Equity and Partners Capital [Line Items]
Common stock, dividend		$ 22.3
Class B Share
Stockholders Equity and Partners Capital [Line Items]
Percentage of ownership, below which Class B not entitled to voting rights		30.00%
Common stock shares, par value		$ 0
IPO
Stockholders Equity and Partners Capital [Line Items]
Ownership percentage acquired		26.70%
IPO | Class A Shares
Stockholders Equity and Partners Capital [Line Items]
Shares issued under initial public offering (in shares)		57,500,000
Borgata | MGM
Stockholders Equity and Partners Capital [Line Items]
Increase in ownership interest in operating partnership		76.30%
Borgata | IPO
Stockholders Equity and Partners Capital [Line Items]
Reduction in ownership percentage acquired		23.70%

Shareholders' Equity and Part46

Shareholders' Equity and Partners' Capital - Changes in Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 5,608,261
Net income	46,692	$ (67,970)
Other comprehensive loss - cash flow hedges	(634)	$ 0
Share-based compensation	188
Deemed contribution - tax sharing agreement	1,238
Dividends declared, $0.3875 per Class A share	(94,109)
Other	401
Ending balance	$ 5,562,037
Dividend declared (in usd per share)	$ 0.3875
Total Shareholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 1,333,817
Net income	11,348
Other comprehensive loss - cash flow hedges	(150)
Share-based compensation	44
Deemed contribution - tax sharing agreement	0
Dividends declared, $0.3875 per Class A share	(22,282)
Other	96
Ending balance	1,322,873
Class A Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0
Ending balance	0
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,363,130
Share-based compensation	44
Other	96
Ending balance	1,363,270
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(29,758)
Net income	11,348
Dividends declared, $0.3875 per Class A share	(22,282)
Ending balance	(40,692)
Other Comprehensive Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	445
Other comprehensive loss - cash flow hedges	(150)
Ending balance	295
Non-controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	4,274,444
Net income	35,344
Other comprehensive loss - cash flow hedges	(484)
Share-based compensation	144
Deemed contribution - tax sharing agreement	1,238
Dividends declared, $0.3875 per Class A share	(71,827)
Other	305
Ending balance	$ 4,239,164

Shareholders' Equity and Part47

Shareholders' Equity and Partners' Capital - Changes in Partners' Capital (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 15, 2017	Mar. 31, 2017	Mar. 31, 2016
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance		$ 5,608,261
Net income		46,692	$ (67,970)
Deemed contribution - tax sharing agreement		1,238
Other comprehensive loss - cash flow hedges		(634)	0
Ending balance		5,562,037
MGP Operating Partnership
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance		5,608,261
Net income		46,692	$ (67,970)
Share-based compensation		188
Deemed contribution - tax sharing agreement		1,238
Distributions declared, $0.3875 per Operating Partnership unit		(94,109)
Other comprehensive loss - cash flow hedges		(634)
Other		401
Ending balance		$ 5,562,037
Cash distribution declared (in usd per unit)	$ 0.3875	$ 0.3875
General Partner | MGP Operating Partnership
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance		$ 0
Ending balance		0
Limited Partner | MGP Operating Partnership
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance		5,608,261
Net income		46,692
Share-based compensation		188
Deemed contribution - tax sharing agreement		1,238
Distributions declared, $0.3875 per Operating Partnership unit		(94,109)
Other comprehensive loss - cash flow hedges		(634)
Other		401
Ending balance		$ 5,562,037

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Income - Rollforward of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Abstract]
Beginning balance	$ 5,608,261
Other comprehensive income before reclassifications	2,052
Amounts reclassified from accumulated other comprehensive income	(2,686)
Other comprehensive loss	(634)	$ 0
Ending balance	5,562,037
Accumulated other comprehensive income	295		$ 445
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Abstract]
Beginning balance	1,879
Ending balance	1,245
Changes in Fair Value of Effective Cash Flow Hedge
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Abstract]
Beginning balance	1,879
Other comprehensive income before reclassifications	2,052
Amounts reclassified from accumulated other comprehensive income	(2,686)
Other comprehensive loss	(634)
Ending balance	1,245
Accumulated other comprehensive income	295
Non-controlling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Abstract]
Beginning balance	4,274,444
Other comprehensive loss	(484)
Ending balance	4,239,164
Accumulated other comprehensive income	$ (950)

Net Income Per Class A Share -

Net Income Per Class A Share - Schedule of Net Income and Number of Class A Shares Used in the Calculation of Basic and Diluted Income Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Denominator:
Basic weighted average Class A shares outstanding (in shares)	57,506,195
Denominator:
Basic weighted average Class A shares outstanding (in shares)	57,506,195
Weighted average shares for diluted net income per Class A share (in shares)	57,784,240
Class A Shares
Numerator:
Net income attributable to Class A shares	$ 11,348	$ 0
Denominator:
Basic weighted average Class A shares outstanding (in shares)	57,506,195
Basic net income per Class A share	$ 0.20
Numerator:
Net income attributable to Class A shares	$ 11,348	$ 0
Denominator:
Basic weighted average Class A shares outstanding (in shares)	57,506,195
Effect of dilutive shares for diluted net income per Class A share (in shares)	278,045
Weighted average shares for diluted net income per Class A share (in shares)	57,784,240
Diluted net income per Class A share	$ 0.20

Net Income Per Operating Patn50

Net Income Per Operating Patnership Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Numerator:
Net income	$ 46,692	$ (67,970)
Numerator:
Net income	46,692	(67,970)
MGP Operating Partnership
Numerator:
Net income	$ 46,692	(67,970)
Denominator:
Basic weighted average Operating Partnership units outstanding (in units)	242,868,331
Basic net income per Operating Partnership Unit (in usd per unit)	$ 0.19
Numerator:
Net income	$ 46,692	$ (67,970)
Denominator:
Basic weighted average Operating Partnership units outstanding (in units)	242,868,331
Effect of dilutive shares for diluted net income per Operating Partnership unit (in units)	278,045
Weighted average shares for diluted net income per Operating Partnership unit (in units)	243,146,376
Diluted net income per Operating Partnership unit (in usd per unit)	$ 0.19

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Estimated Minimum Lease Payments (Detail) $ in Thousands	Mar. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,017	$ 4,816
2,018	6,688
2,019	6,688
2,020	7,014
2,021	7,027
Thereafter	703,516
Total minimum lease payments	$ 735,749

Consolidating Financial Infor52

Consolidating Financial Information - Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Real estate investments, net	$ 9,019,620	$ 9,079,678
Cash and cash equivalents	368,298	360,492	$ 360,492	$ 0	$ 0
Tenant and other receivables, net	4,612	9,503
Intercompany	0	0
Prepaid expenses and other assets	11,154	10,906
Investments in subsidiaries	0	0
Above market lease, asset	45,768	46,161
Total assets	9,449,452	9,506,740
Liabilities
Debt, net	3,606,973	3,621,942
Due to MGM Resorts International and affiliates	816	166
Intercompany	0	0
Accounts payable, accrued expenses and other liabilities	4,829	10,478
Above market lease, liability	47,735	47,957
Accrued interest	27,018	26,137
Dividend payable	94,109	94,109
Deferred revenue	80,567	72,322
Deferred income taxes, net	25,368	25,368
Total liabilities	3,887,415	3,898,479
General partner	0	0
Limited partners	5,562,037	5,608,261
Total partners' capital	5,562,037	5,608,261
Total liabilities and shareholders’ equity	9,449,452	9,506,740
Eliminations
ASSETS
Real estate investments, net	0	0
Cash and cash equivalents	0	0
Tenant and other receivables, net	0	0
Intercompany	(717,674)	(880,823)
Prepaid expenses and other assets	0	0
Investments in subsidiaries	(8,195,645)	(8,100,942)
Above market lease, asset	0	0
Total assets	(8,913,319)	(8,981,765)
Liabilities
Debt, net	0	0
Due to MGM Resorts International and affiliates	0	0
Intercompany	(717,674)	(880,823)
Accounts payable, accrued expenses and other liabilities	0	0
Above market lease, liability	0	0
Accrued interest	0	0
Dividend payable	0	0
Deferred revenue	0	0
Deferred income taxes, net	0	0
Total liabilities	(717,674)	(880,823)
General partner	0	0
Limited partners	(8,195,645)	(8,100,942)
Total partners' capital	(8,195,645)	(8,100,942)
Total liabilities and shareholders’ equity	(8,913,319)	(8,981,765)
MGP Operating Partnership
ASSETS
Real estate investments, net	9,019,620	9,079,678
Cash and cash equivalents	368,298	360,492		$ 0	$ 0
Tenant and other receivables, net	4,612	9,503
Prepaid expenses and other assets	11,154	10,906
Above market lease, asset	45,768	46,161
Total assets	9,449,452	9,506,740
Liabilities
Debt, net	3,606,973	3,621,942
Due to MGM Resorts International and affiliates	816	166
Accounts payable, accrued expenses and other liabilities	4,829	10,478
Above market lease, liability	47,735	47,957
Accrued interest	27,018	26,137
Dividend payable	94,109	94,109
Deferred revenue	80,567	72,322
Deferred income taxes, net	25,368	25,368
Total liabilities	3,887,415	3,898,479
General partner	0	0
Limited partners	5,562,037	5,608,261
Total partners' capital	5,562,037	5,608,261
Total liabilities and shareholders’ equity	9,449,452	9,506,740
MGP Operating Partnership | Reportable Legal Entities
ASSETS
Real estate investments, net	0	0
Cash and cash equivalents	368,298	360,492
Tenant and other receivables, net	319	2,059
Intercompany	717,674	880,823
Prepaid expenses and other assets	11,154	9,167
Investments in subsidiaries	8,195,645	8,100,942
Above market lease, asset	0	0
Total assets	9,293,090	9,353,483
Liabilities
Debt, net	3,606,973	3,621,942
Due to MGM Resorts International and affiliates	0	0
Intercompany	0	0
Accounts payable, accrued expenses and other liabilities	2,953	3,034
Above market lease, liability	0	0
Accrued interest	27,018	26,137
Dividend payable	94,109	94,109
Deferred revenue	0	0
Deferred income taxes, net	0	0
Total liabilities	3,731,053	3,745,222
General partner	0	0
Limited partners	5,562,037	5,608,261
Total partners' capital	5,562,037	5,608,261
Total liabilities and shareholders’ equity	9,293,090	9,353,483
Co-Issuer | Reportable Legal Entities
ASSETS
Real estate investments, net	0	0
Cash and cash equivalents	0	0
Tenant and other receivables, net	0	0
Intercompany	0	0
Prepaid expenses and other assets	0	0
Investments in subsidiaries	0	0
Above market lease, asset	0	0
Total assets	0	0
Liabilities
Debt, net	0	0
Due to MGM Resorts International and affiliates	0	0
Intercompany	0	0
Accounts payable, accrued expenses and other liabilities	0	0
Above market lease, liability	0	0
Accrued interest	0	0
Dividend payable	0	0
Deferred revenue	0	0
Deferred income taxes, net	0	0
Total liabilities	0	0
General partner	0	0
Limited partners	0	0
Total partners' capital	0	0
Total liabilities and shareholders’ equity	0	0
Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Real estate investments, net	9,019,620	9,079,678
Cash and cash equivalents	0	0
Tenant and other receivables, net	4,293	7,444
Intercompany	0	0
Prepaid expenses and other assets	0	1,739
Investments in subsidiaries	0	0
Above market lease, asset	45,768	46,161
Total assets	9,069,681	9,135,022
Liabilities
Debt, net	0	0
Due to MGM Resorts International and affiliates	816	166
Intercompany	717,674	880,823
Accounts payable, accrued expenses and other liabilities	1,876	7,444
Above market lease, liability	47,735	47,957
Accrued interest	0	0
Dividend payable	0	0
Deferred revenue	80,567	72,322
Deferred income taxes, net	25,368	25,368
Total liabilities	874,036	1,034,080
General partner	0	0
Limited partners	8,195,645	8,100,942
Total partners' capital	8,195,645	8,100,942
Total liabilities and shareholders’ equity	$ 9,069,681	$ 9,135,022

Consolidating Financial Infor53

Consolidating Financial Information - Statement of Operations and Comprehensive Income Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues
Rental revenue	$ 163,177	$ 0
Tenant reimbursements and other	20,722	0
Revenues, net	183,899	0
Expenses
Depreciation	61,684	51,476
Property transactions, net	6,855	874
Property taxes	20,487	13,236
Amortization of above market lease, net	171	0
General and administrative	2,680	0
Expenses, net	91,877	67,970
Operating income (loss)	92,022	(67,970)
Equity in earnings of subsidiaries	0
Non-operating income (expense)
Interest income	678	0
Interest expense	(44,636)	0
Other non-operating	(134)	0
Non-operating income (expense)	(44,092)	0
Income (loss) before income taxes	47,930	(67,970)
Provision for income taxes	(1,238)	0
Net income (loss)	46,692	(67,970)
Unrealized loss on cash flow hedges, net	(634)	0
Comprehensive income (loss)	46,058	(67,970)
Eliminations
Revenues
Rental revenue	0
Tenant reimbursements and other	0
Revenues, net	0
Expenses
Depreciation	0
Property transactions, net	0
Property taxes	0
Amortization of above market lease, net	0
General and administrative	0
Expenses, net	0
Operating income (loss)	0
Equity in earnings of subsidiaries	(93,464)
Non-operating income (expense)
Interest income	0
Interest expense	0
Other non-operating	0
Non-operating income (expense)	0
Income (loss) before income taxes	(93,464)
Provision for income taxes	0
Net income (loss)	(93,464)
Unrealized loss on cash flow hedges, net	0
Comprehensive income (loss)	(93,464)
MGP Operating Partnership
Revenues
Rental revenue	163,177	0
Tenant reimbursements and other	20,722	0
Revenues, net	183,899	0
Expenses
Depreciation	61,684	51,476
Property transactions, net	6,855	874
Property taxes	20,487	13,236
Amortization of above market lease, net	171	0
General and administrative	2,680	0
Expenses, net	91,877	67,970
Operating income (loss)	92,022	(67,970)
Non-operating income (expense)
Interest income	678	0
Interest expense	(44,636)	0
Other non-operating	(134)	0
Non-operating income (expense)	(44,092)	0
Income (loss) before income taxes	47,930	(67,970)
Provision for income taxes	(1,238)	0
Net income (loss)	46,692	(67,970)
Unrealized loss on cash flow hedges, net	(634)	0
Comprehensive income (loss)	46,058	$ (67,970)
MGP Operating Partnership | Reportable Legal Entities
Revenues
Rental revenue	0
Tenant reimbursements and other	0
Revenues, net	0
Expenses
Depreciation	0
Property transactions, net	0
Property taxes	0
Amortization of above market lease, net	0
General and administrative	2,680
Expenses, net	2,680
Operating income (loss)	(2,680)
Equity in earnings of subsidiaries	93,464
Non-operating income (expense)
Interest income	678
Interest expense	(44,636)
Other non-operating	(134)
Non-operating income (expense)	(44,092)
Income (loss) before income taxes	46,692
Provision for income taxes	0
Net income (loss)	46,692
Unrealized loss on cash flow hedges, net	(634)
Comprehensive income (loss)	46,058
Co-Issuer | Reportable Legal Entities
Revenues
Rental revenue	0
Tenant reimbursements and other	0
Revenues, net	0
Expenses
Depreciation	0
Property transactions, net	0
Property taxes	0
Amortization of above market lease, net	0
General and administrative	0
Expenses, net	0
Operating income (loss)	0
Equity in earnings of subsidiaries	0
Non-operating income (expense)
Interest income	0
Interest expense	0
Other non-operating	0
Non-operating income (expense)	0
Income (loss) before income taxes	0
Provision for income taxes	0
Net income (loss)	0
Unrealized loss on cash flow hedges, net	0
Comprehensive income (loss)	0
Guarantor Subsidiaries | Reportable Legal Entities
Revenues
Rental revenue	163,177
Tenant reimbursements and other	20,722
Revenues, net	183,899
Expenses
Depreciation	61,684
Property transactions, net	6,855
Property taxes	20,487
Amortization of above market lease, net	171
General and administrative	0
Expenses, net	89,197
Operating income (loss)	94,702
Equity in earnings of subsidiaries	0
Non-operating income (expense)
Interest income	0
Interest expense	0
Other non-operating	0
Non-operating income (expense)	0
Income (loss) before income taxes	94,702
Provision for income taxes	(1,238)
Net income (loss)	93,464
Unrealized loss on cash flow hedges, net	0
Comprehensive income (loss)	$ 93,464

Consolidating Financial Infor54

Consolidating Financial Information - Statement of Cash Flows Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net cash provided by (used in) operating activities	$ 119,191	$ (15,620)
Cash flows from investing activities
Capital expenditures for property and equipment funded by Parent	0	(111,241)
Net cash used in investing activities	0	(111,241)
Cash flows from financing activities
Deferred financing costs	(526)	0
Repayment of debt principal	(16,750)	0
Dividends and distributions paid	(94,109)	0
Cash received by Parent on behalf of Guarantor Subsidiaries	0
Net cash transfers from Parent	0	126,861
Net cash (used in) provided by financing activities	(111,385)	126,861
Cash and cash equivalents
Net increase for the period	7,806	0
Balance, beginning of period	360,492	0
Balance, end of period	368,298	0
Eliminations
Cash flows from operating activities
Net cash provided by (used in) operating activities	0
Cash flows from investing activities
Net cash used in investing activities	0
Cash flows from financing activities
Deferred financing costs	0
Repayment of debt principal	0
Dividends and distributions paid	0
Cash received by Parent on behalf of Guarantor Subsidiaries	0
Net cash (used in) provided by financing activities	0
Cash and cash equivalents
Net increase for the period	0
Balance, beginning of period	0
Balance, end of period	0
MGP Operating Partnership
Cash flows from operating activities
Net cash provided by (used in) operating activities	119,191	(15,620)
Cash flows from investing activities
Capital expenditures for property and equipment funded by Parent	0	(111,241)
Net cash used in investing activities	0	(111,241)
Cash flows from financing activities
Deferred financing costs	(526)	0
Repayment of debt principal	(16,750)	0
Dividends and distributions paid	(94,109)	0
Net cash transfers from Parent	0	126,861
Net cash (used in) provided by financing activities	(111,385)	126,861
Cash and cash equivalents
Net increase for the period	7,806	0
Balance, beginning of period	360,492	0
Balance, end of period	368,298	$ 0
MGP Operating Partnership | Reportable Legal Entities
Cash flows from operating activities
Net cash provided by (used in) operating activities	(43,309)
Cash flows from investing activities
Net cash used in investing activities	0
Cash flows from financing activities
Deferred financing costs	(526)
Repayment of debt principal	(16,750)
Dividends and distributions paid	(94,109)
Cash received by Parent on behalf of Guarantor Subsidiaries	162,500
Net cash (used in) provided by financing activities	51,115
Cash and cash equivalents
Net increase for the period	7,806
Balance, beginning of period	360,492
Balance, end of period	368,298
Co-Issuer | Reportable Legal Entities
Cash flows from operating activities
Net cash provided by (used in) operating activities	0
Cash flows from investing activities
Net cash used in investing activities	0
Cash flows from financing activities
Deferred financing costs	0
Repayment of debt principal	0
Dividends and distributions paid	0
Cash received by Parent on behalf of Guarantor Subsidiaries	0
Net cash (used in) provided by financing activities	0
Cash and cash equivalents
Net increase for the period	0
Balance, beginning of period	0
Balance, end of period	0
Guarantor Subsidiaries | Reportable Legal Entities
Cash flows from operating activities
Net cash provided by (used in) operating activities	162,500
Cash flows from investing activities
Net cash used in investing activities	0
Cash flows from financing activities
Deferred financing costs	0
Repayment of debt principal	0
Dividends and distributions paid	0
Cash received by Parent on behalf of Guarantor Subsidiaries	(162,500)
Net cash (used in) provided by financing activities	(162,500)
Cash and cash equivalents
Net increase for the period	0
Balance, beginning of period	0
Balance, end of period	$ 0