MGM Growth Properties Operating Partnership (MGP) 10-Q 5 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Nov. 01, 2019
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-37733
Entity Registrant Name	MGM Growth Properties LLC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-5513237
Entity Address, Address Line One	1980 Festival Plaza Drive, Suite #750
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89135
City Area Code	702
Local Phone Number	669-1480
Title of 12(b) Security	Class A Shares, no par value
Trading Symbol	MGP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001656936
Current Fiscal Year End Date	--12-31
MGP Operating Partnership
Document Information [Line Items]
Entity File Number	333-215571
Entity Registrant Name	MGM Growth Properties Operating Partnership LP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-1162318
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001691299
Class A Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		95,806,597
Class B Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Real estate investments, net	$ 10,894,121	$ 10,506,129
Lease incentive asset	532,186	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	153,526	3,995
Tenant and other receivables, net	463	7,668
Prepaid expenses and other assets	27,413	34,813
Above market lease, asset	41,834	43,014
Operating lease right-of-use assets	280,020	0
Assets held for sale	0	355,688
Total assets	11,929,563	10,951,307
Liabilities
Debt, net	4,847,408	4,666,949
Due to MGM Resorts International and affiliates	298	227
Accounts payable, accrued expenses and other liabilities	59,937	20,796
Above market lease, liability	0	46,181
Accrued interest	37,407	26,096
Dividend and distribution payable	138,730	119,055
Deferred revenue	95,306	163,926
Deferred income taxes, net	29,721	33,634
Operating lease liabilities	336,452	0
Liabilities related to assets held for sale	0	28,937
Total liabilities	5,545,259	5,105,801
Commitments and contingencies (Note 11)
Shareholders’ equity
Class A shares: no par value, 1,000,000,000 shares authorized, 95,468,067 and 70,911,166 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively	0	0
Additional paid-in capital	2,307,463	1,712,671
Accumulated deficit	(216,824)	(150,908)
Accumulated other comprehensive income (loss)	(16,129)	4,208
Total Class A shareholders’ equity	2,074,510	1,565,971
Noncontrolling interest	4,309,794	4,279,535
Total shareholders’ equity	6,384,304	5,845,506
Partners' capital
Total liabilities and shareholders’ equity	11,929,563	10,951,307
MGP Operating Partnership
ASSETS
Real estate investments, net	10,894,121	10,506,129
Lease incentive asset	532,186	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	153,526	3,995
Tenant and other receivables, net	463	7,668
Prepaid expenses and other assets	27,413	34,813
Above market lease, asset	41,834	43,014
Operating lease right-of-use assets	280,020	0
Assets held for sale	0	355,688
Total assets	11,929,563	10,951,307
Liabilities
Debt, net	4,847,408	4,666,949
Due to MGM Resorts International and affiliates	298	227
Accounts payable, accrued expenses and other liabilities	59,937	20,796
Above market lease, liability	0	46,181
Accrued interest	37,407	26,096
Dividend and distribution payable	138,730	119,055
Deferred revenue	95,306	163,926
Deferred income taxes, net	29,721	33,634
Operating lease liabilities	336,452	0
Liabilities related to assets held for sale	0	28,937
Total liabilities	5,545,259	5,105,801
Commitments and contingencies (Note 11)
Partners' capital
General partner	0	0
Limited partners: 295,170,610 and 266,045,289 Operating Partnership units issued and outstanding as of September 30, 2019 and December 31, 2018, respectively	6,384,304	5,845,506
Total partners' capital	6,384,304	5,845,506
Total liabilities and shareholders’ equity	$ 11,929,563	$ 10,951,307

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Shareholders’ equity
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	95,468,067	70,911,166
Common stock, shares outstanding (in shares)	95,468,067	70,911,166
MGP Operating Partnership
Partners' capital
Partners’ capital, units issued (in shares)	295,170,610	266,045,289
Partners’ capital, units outstanding (in shares)	295,170,610	266,045,289

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues	$ 226,011	$ 216,659	$ 655,193	$ 652,888
Expenses
Depreciation	71,957	63,468	223,062	199,933
Property transactions, net	9,921	339	11,344	18,851
Ground lease and other reimbursable expenses	5,920	29,168	17,760	90,435
Amortization of above market lease, net	0	171	0	514
Acquisition-related expenses	92	1,931	8,891	4,603
General and administrative	4,476	3,358	12,305	10,021
Expenses, net	92,366	98,435	273,362	324,357
Other income (expense)
Interest income	241	163	2,189	2,473
Interest expense	(63,048)	(58,743)	(190,973)	(157,249)
Other	(306)	(1,020)	(806)	(6,409)
Non-operating income (expense)	(63,113)	(59,600)	(189,590)	(161,185)
Income from continuing operations before income taxes	70,532	58,624	192,241	167,346
Provision for income taxes	(1,979)	(2,650)	(5,771)	(5,144)
Net income	68,553	55,974	186,470	162,202
Income from discontinued operations	0	13,949	16,216	13,949
Net income	68,553	69,923	202,686	176,151
Less: Net income attributable to noncontrolling interest	(46,038)	(50,439)	(138,358)	(127,691)
Net income attributable to Class A shares - basic and diluted	$ 22,515	$ 19,484	$ 64,328	$ 48,460
Weighted average Class A shares outstanding:
Basic (in shares)	93,165,443	71,005,052	89,440,552	70,991,129
Diluted (in shares)	93,322,940	71,201,791	89,645,109	71,174,270
MGP Operating Partnership
Revenues	$ 226,011	$ 216,659	$ 655,193	$ 652,888
Expenses
Depreciation	71,957	63,468	223,062	199,933
Property transactions, net	9,921	339	11,344	18,851
Ground lease and other reimbursable expenses	5,920	29,168	17,760	90,435
Amortization of above market lease, net	0	171	0	514
Acquisition-related expenses	92	1,931	8,891	4,603
General and administrative	4,476	3,358	12,305	10,021
Expenses, net	92,366	98,435	273,362	324,357
Other income (expense)
Interest income	241	163	2,189	2,473
Interest expense	(63,048)	(58,743)	(190,973)	(157,249)
Other	(306)	(1,020)	(806)	(6,409)
Non-operating income (expense)	(63,113)	(59,600)	(189,590)	(161,185)
Income from continuing operations before income taxes	70,532	58,624	192,241	167,346
Provision for income taxes	(1,979)	(2,650)	(5,771)	(5,144)
Net income	68,553	55,974	186,470	162,202
Income from discontinued operations	0	13,949	16,216	13,949
Net income	$ 68,553	$ 69,923	$ 202,686	$ 176,151
Weighted average Operating Partnership units outstanding:
Basic (in shares)	292,867,986	266,139,175	290,661,305	266,125,252
Diluted (in shares)	293,025,483	266,335,914	290,865,862	266,308,393
Net income per Operating Partnership unit (basic) (in dollars per share)	$ 0.23	$ 0.26	$ 0.70	$ 0.66
Net income per Operating Partnership unit (diluted) (in dollars per share)	0.23	0.26	0.70	0.66
Class A Shares
Weighted average Class A shares outstanding:
Income from continuing operations per Class A share (basic) (in usd per share)	0.24	0.22	0.67	0.63
Income from discontinued operations per Class A share (basic) (in usd per share)	0	0.05	0.05	0.05
Income from discontinued operations per Class A share (basic) (in usd per share)	0.24	0.27	0.72	0.68
Income from continuing operations per Class A share (diluted) (in usd per share)	0.24	0.22	0.67	0.63
Income from discontinued operations per Class A share (diluted) (in usd per share)	0	0.05	0.05	0.05
Net income per Class A share (diluted) (in usd per share)	$ 0.24	$ 0.27	$ 0.72	$ 0.68
Rental revenue
Revenues	$ 219,847	$ 186,564	$ 636,575	$ 559,690
Rental revenue | MGP Operating Partnership
Revenues	219,847	186,564	636,575	559,690
Tenant reimbursements and other
Revenues	6,164	30,095	18,618	93,198
Tenant reimbursements and other | MGP Operating Partnership
Revenues	$ 6,164	$ 30,095	$ 18,618	$ 93,198
Continuing Operations | MGP Operating Partnership
Weighted average Operating Partnership units outstanding:
Net income per Operating Partnership unit (basic) (in dollars per share)	$ 0.23	$ 0.21	$ 0.64	$ 0.61
Net income per Operating Partnership unit (diluted) (in dollars per share)	0.23	0.21	0.64	0.61
Discontinued Operations | MGP Operating Partnership
Weighted average Operating Partnership units outstanding:
Net income per Operating Partnership unit (basic) (in dollars per share)	0	0.05	0.06	0.05
Net income per Operating Partnership unit (diluted) (in dollars per share)	$ 0	$ 0.05	$ 0.06	$ 0.05

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net income	$ 68,553	$ 55,974	$ 186,470	$ 162,202
Net income	68,553	69,923	202,686	176,151
Other comprehensive income (loss)
Unrealized gain (loss) on cash flow hedges	(19,270)	4,736	(65,657)	27,372
Other comprehensive income (loss)	(19,270)	4,736	(65,657)	27,372
Comprehensive income	49,283	74,659	137,029	203,523
Less: Comprehensive income attributable to noncontrolling interests	(33,001)	(53,912)	(93,298)	(147,767)
Comprehensive income attributable to Class A shareholders	16,282	20,747	43,731	55,756
MGP Operating Partnership
Net income	68,553	55,974	186,470	162,202
Net income	68,553	69,923	202,686	176,151
Other comprehensive income (loss)
Unrealized gain (loss) on cash flow hedges	(19,270)	4,736	(65,657)	27,372
Other comprehensive income (loss)	(19,270)	4,736
Comprehensive income	$ 49,283	$ 74,659	$ 137,029	$ 203,523

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net income	$ 202,686	$ 176,151
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Income from discontinued operations, net	(16,216)	(13,949)
Depreciation	223,062	199,933
Property transactions, net	11,344	18,851
Amortization of deferred financing costs and debt discount	9,602	9,391
Loss on retirement of debt	0	2,736
Non-cash ground lease, net	778	514
Deemed contributions - tax sharing agreement	5,599	4,912
Straight-line rental revenues, excluding amortization of lease incentive asset	29,783	14,657
Amortization of lease incentive asset	11,355	0
Amortization of deferred revenue on non-normal tenant improvements	(1,636)	(2,762)
Share-based compensation	1,608	1,516
Deferred income taxes	(3,913)	2,848
Park MGM Transaction	(605,625)	0
Distributions received from discontinued operations and other	40,165	88
Changes in operating assets and liabilities:
Tenant and other receivables, net	(437)	550
Prepaid expenses and other assets	(222)	137
Due to MGM Resorts International and affiliates	71	(633)
Accounts payable, accrued expenses and other liabilities	(3,832)	67
Accrued interest	11,311	9,830
Net cash provided by (used in) operating activities - continuing operations	(84,517)	424,837
Cash flows from investing activities
Capital expenditures for property and equipment	0	(191)
Acquisition of Northfield	0	(1,068,337)
Proceeds from Northfield OpCo Transaction	3,779	0
Net cash provided by (used in) investing activities - continuing operations	3,779	(1,068,528)
Cash flows from financing activities
Net borrowings (repayments) under bank credit facility	(566,813)	747,375
Proceeds from issuance of debt	750,000	0
Deferred financing costs	(9,983)	(17,490)
Repayment of assumed bridge facility	(245,950)	0
Proceeds from issuance of Class A shares, net	699,362	0
Dividends and distributions paid	(395,005)	(337,865)
Other	(1,342)	0
Net cash provided by financing activities - continuing operations	230,269	392,020
Cash flows from discontinued operations, net
Cash flows provided by operating activities, net	15,591	8,250
Cash flows provided by (used in) investing activities, net	(12)	33,199
Cash flows used in financing activities, net	(37,900)	0
Net cash provided by (used in) discontinued operations	(22,321)	41,449
Change in cash and cash equivalents classified as assets held for sale	(22,321)	41,449
Cash and cash equivalents
Net increase (decrease) for the period	149,531	(251,671)
Balance, beginning of period	3,995	259,722
Balance, end of period	153,526	8,051
Supplemental cash flow disclosures
Interest paid	169,646	137,623
Non-cash investing and financing activities
Non-Normal Tenant Improvements by Tenant	0	18,172
Accrual of dividend and distribution payable to Class A shareholders and Operating Partnership unit holders	138,730	116,395
MGP Operating Partnership
Cash flows from operating activities
Net income	202,686	176,151
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Income from discontinued operations, net	(16,216)	(13,949)
Depreciation	223,062	199,933
Property transactions, net	11,344	18,851
Amortization of deferred financing costs and debt discount	9,602	9,391
Loss on retirement of debt	0	2,736
Non-cash ground lease, net	778	514
Deemed contributions - tax sharing agreement	5,599	4,912
Straight-line rental revenues, excluding amortization of lease incentive asset	29,783	14,657
Amortization of lease incentive asset	11,355	0
Amortization of deferred revenue on non-normal tenant improvements	(1,636)	(2,762)
Share-based compensation	1,608	1,516
Deferred income taxes	(3,913)	2,848
Park MGM Transaction	(605,625)	0
Distributions received from discontinued operations and other	40,165	88
Changes in operating assets and liabilities:
Tenant and other receivables, net	(437)	550
Prepaid expenses and other assets	(222)	137
Due to MGM Resorts International and affiliates	71	(633)
Accounts payable, accrued expenses and other liabilities	(3,832)	67
Accrued interest	11,311	9,830
Net cash provided by (used in) operating activities - continuing operations	(84,517)	424,837
Cash flows from investing activities
Capital expenditures for property and equipment	0	(191)
Acquisition of Northfield	0	(1,068,337)
Proceeds from Northfield OpCo Transaction	3,779	0
Net cash provided by (used in) investing activities - continuing operations	3,779	(1,068,528)
Cash flows from financing activities
Net borrowings (repayments) under bank credit facility	(566,813)	747,375
Proceeds from issuance of debt	750,000	0
Deferred financing costs	(9,983)	(17,490)
Repayment of assumed bridge facility	(245,950)	0
Proceeds from issuance of Class A shares, net	699,362	0
Dividends and distributions paid	(395,005)	(337,865)
Other	(1,342)	0
Net cash provided by financing activities - continuing operations	230,269	392,020
Cash flows from discontinued operations, net
Cash flows provided by operating activities, net	15,591	8,250
Cash flows provided by (used in) investing activities, net	(12)	33,199
Cash flows used in financing activities, net	(37,900)	0
Net cash provided by (used in) discontinued operations	(22,321)	41,449
Change in cash and cash equivalents classified as assets held for sale	(22,321)	41,449
Cash and cash equivalents
Net increase (decrease) for the period	149,531	(251,671)
Balance, beginning of period	3,995	259,722
Balance, end of period	153,526	8,051
Supplemental cash flow disclosures
Interest paid	169,646	137,623
Non-cash investing and financing activities
Non-Normal Tenant Improvements by Tenant	0	18,172
Accrual of dividend and distribution payable to Class A shareholders and Operating Partnership unit holders	138,730	116,395
Empire City
Non-cash investing and financing activities
Empire City Transaction assets acquired	625,000	0
Empire City | MGP Operating Partnership
Non-cash investing and financing activities
Empire City Transaction assets acquired	625,000	0
Northfield OpCo
Non-cash investing and financing activities
Redemption of Operating Partnership units relating to Northfield OpCo Transaction	301,373	0
Northfield OpCo | MGP Operating Partnership
Non-cash investing and financing activities
Redemption of Operating Partnership units relating to Northfield OpCo Transaction	$ 301,373	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity - USD ($)	Total	Common stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Total Class A Shareholders' Equity	Noncontrolling Interest	Empire City	Empire CityAdditional Paid-in Capital	Empire CityAccumulated Other Comprehensive Income (Loss)	Empire CityTotal Class A Shareholders' Equity	Empire CityNoncontrolling Interest	Park MGM Lease Transaction	Park MGM Lease TransactionAdditional Paid-in Capital	Park MGM Lease TransactionAccumulated Other Comprehensive Income (Loss)	Park MGM Lease TransactionTotal Class A Shareholders' Equity	Park MGM Lease TransactionNoncontrolling Interest
Balance (in shares) at Dec. 31, 2017		70,897,000
Balance at Dec. 31, 2017	$ 6,067,739,000	$ 0	$ 1,716,490,000	$ (94,948,000)	$ 3,108,000	$ 1,624,650,000	$ 4,443,089,000
Changes in equity:
Net income	58,169,000			15,830,000		15,830,000	42,339,000
Deemed contribution - tax sharing agreement	1,231,000					0	1,231,000
Dividends and distributions declared	(111,733,000)			(29,777,000)		(29,777,000)	(81,956,000)
Share-based compensation	384,000		102,000			102,000	282,000
Other comprehensive income - cash flow hedges	16,355,000				4,358,000	4,358,000	11,997,000
Other	401,000		108,000			108,000	293,000
Balance (in shares) at Mar. 31, 2018		70,897,000
Balance at Mar. 31, 2018	6,032,546,000	$ 0	1,716,700,000	(108,895,000)	7,466,000	1,615,271,000	4,417,275,000
Changes in equity:
Dividends declared	0.4200
Balance (in shares) at Dec. 31, 2017		70,897,000
Balance at Dec. 31, 2017	6,067,739,000	$ 0	1,716,490,000	(94,948,000)	3,108,000	1,624,650,000	4,443,089,000
Changes in equity:
Net income	176,151,000
Northfield OpCo Transaction	1,068,337,000
Other comprehensive income - cash flow hedges	27,372,000
Balance (in shares) at Sep. 30, 2018		70,911,000
Balance at Sep. 30, 2018	5,915,203,000	$ 0	1,711,813,000	(137,781,000)	10,404,000	1,584,436,000	4,330,767,000
Balance (in shares) at Mar. 31, 2018		70,897,000
Balance at Mar. 31, 2018	6,032,546,000	$ 0	1,716,700,000	(108,895,000)	7,466,000	1,615,271,000	4,417,275,000
Changes in equity:
Net income	48,059,000			13,146,000		13,146,000	34,913,000
Deemed contribution - tax sharing agreement	1,263,000					0	1,263,000
Dividends and distributions declared	(114,399,000)			(30,492,000)		(30,492,000)	(83,907,000)
Share-based compensation	556,000		149,000			149,000	407,000
Other comprehensive income - cash flow hedges	6,281,000				1,675,000	1,675,000	4,606,000
Other (shares)		14,000
Other	(3,000)		237,000			237,000	(240,000)
Balance (in shares) at Jun. 30, 2018		70,911,000
Balance at Jun. 30, 2018	5,974,303,000	$ 0	1,717,086,000	(126,241,000)	9,141,000	1,599,986,000	4,374,317,000
Changes in equity:
Dividends declared	0.4300
Net income	69,923,000			19,484,000		19,484,000	50,439,000
Deemed contribution - tax sharing agreement	2,418,000					0	2,418,000
Dividends and distributions declared	(116,395,000)			(31,024,000)		(31,024,000)	(85,371,000)
Share-based compensation	576,000		153,000			153,000	423,000
Other comprehensive income - cash flow hedges	4,736,000				1,263,000	1,263,000	3,473,000
Other	(20,358,000)		(5,426,000)			(5,426,000)	(14,932,000)
Balance (in shares) at Sep. 30, 2018		70,911,000
Balance at Sep. 30, 2018	5,915,203,000	$ 0	1,711,813,000	(137,781,000)	10,404,000	1,584,436,000	4,330,767,000
Changes in equity:
Dividends declared	$ 0.4375
Balance (in shares) at Dec. 31, 2018	70,911,166	70,911,000
Balance at Dec. 31, 2018	$ 5,845,506,000	$ 0	1,712,671,000	(150,908,000)	4,208,000	1,565,971,000	4,279,535,000
Changes in equity:
Net income	66,364,000			19,955,000		19,955,000	46,409,000
Deemed contribution - tax sharing agreement	1,345,000					0	1,345,000
Dividends and distributions declared	(139,279,000)			(42,064,000)		(42,064,000)	(97,215,000)
Issuance of Class A shares (in shares)		19,550,000
Issuance of Class A shares	548,391,000		471,647,000		774,000	472,421,000	75,970,000
Increase from Business Combination								$ 379,050,000	$ 23,940,000	$ (195,000)	$ 23,745,000	$ 355,305,000	$ 31,875,000	$ 2,512,000	$ (16,000)	$ 2,496,000	$ 29,379,000
Share-based compensation	565,000		164,000			164,000	401,000
Other comprehensive income - cash flow hedges	(15,612,000)				(4,717,000)	(4,717,000)	(10,895,000)
Other	(1,288,000)		(389,000)			(389,000)	(899,000)
Balance (in shares) at Mar. 31, 2019		90,461,000
Balance at Mar. 31, 2019	6,716,917,000	$ 0	2,210,545,000	(173,017,000)	54,000	2,037,582,000	4,679,335,000
Changes in equity:
Dividends declared	$ 0.4650
Balance (in shares) at Dec. 31, 2018	70,911,166	70,911,000
Balance at Dec. 31, 2018	$ 5,845,506,000	$ 0	1,712,671,000	(150,908,000)	4,208,000	1,565,971,000	4,279,535,000
Changes in equity:
Net income	202,686,000
Northfield OpCo Transaction	0
Other comprehensive income - cash flow hedges	$ (65,657,000)
Balance (in shares) at Sep. 30, 2019	95,468,067	95,468,000
Balance at Sep. 30, 2019	$ 6,384,304,000	$ 0	2,307,463,000	(216,824,000)	(16,129,000)	2,074,510,000	4,309,794,000
Balance (in shares) at Mar. 31, 2019		90,461,000
Balance at Mar. 31, 2019	6,716,917,000	$ 0	2,210,545,000	(173,017,000)	54,000	2,037,582,000	4,679,335,000
Changes in equity:
Net income	67,769,000			21,858,000		21,858,000	45,911,000
Deemed contribution - tax sharing agreement	2,275,000					0	2,275,000
Dividends and distributions declared	(136,671,000)			(43,310,000)		(43,310,000)	(93,361,000)
Issuance of Class A shares (in shares)		2,101,000
Issuance of Class A shares	64,908,000		52,294,000		(105,000)	52,189,000	12,719,000
Northfield OpCo Transaction	(298,957,000)		(27,441,000)	0	2,000	(27,439,000)	(271,518,000)
Share-based compensation (shares)		77,000
Share-based compensation	524,000		164,000			164,000	360,000
Other comprehensive income - cash flow hedges	(30,775,000)				(9,647,000)	(9,647,000)	(21,128,000)
Other	542,000		1,823,000			1,823,000	(1,281,000)
Balance (in shares) at Jun. 30, 2019		92,639,000
Balance at Jun. 30, 2019	6,386,532,000	$ 0	2,237,385,000	(194,469,000)	(9,696,000)	2,033,220,000	4,353,312,000
Changes in equity:
Dividends declared	0.4675
Net income	68,553,000			22,515,000		22,515,000	46,038,000
Deemed contribution - tax sharing agreement	1,979,000					0	1,979,000
Dividends and distributions declared	(138,730,000)			(44,870,000)		(44,870,000)	(93,860,000)
Issuance of Class A shares (in shares)		2,829,000
Issuance of Class A shares	86,063,000		70,338,000		(200,000)	70,138,000	15,925,000
Share-based compensation	519,000		166,000			166,000	353,000
Other comprehensive income - cash flow hedges	(19,270,000)				(6,233,000)	(6,233,000)	(13,037,000)
Other	$ (1,342,000)		(426,000)			(426,000)	(916,000)
Balance (in shares) at Sep. 30, 2019	95,468,067	95,468,000
Balance at Sep. 30, 2019	$ 6,384,304,000	$ 0	$ 2,307,463,000	$ (216,824,000)	$ (16,129,000)	$ 2,074,510,000	$ 4,309,794,000
Changes in equity:
Dividends declared	$ 0.4700

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Partners' Capital - USD ($) $ in Thousands	Total	MGP Operating Partnership	MGP Operating PartnershipGeneral Partner	MGP Operating PartnershipLimited Partners	Empire CityMGP Operating Partnership	Empire CityMGP Operating PartnershipLimited Partners	Park MGM Lease TransactionMGP Operating Partnership	Park MGM Lease TransactionMGP Operating PartnershipLimited Partners
Balance at Dec. 31, 2017		$ 6,067,739	$ 0	$ 6,067,739
Changes in partners' capital:
Net income	$ 58,169	58,169		58,169
Deemed contribution - tax sharing agreement	1,231	1,231		1,231
Dividends and distributions declared	(111,733)	(111,733)		(111,733)
Share-based compensation	384	384		384
Other comprehensive income - cash flow hedges	16,355	16,355		16,355
Other		401		401
Balance at Mar. 31, 2018		6,032,546	0	6,032,546
Balance at Dec. 31, 2017		6,067,739	0	6,067,739
Changes in partners' capital:
Net income	176,151	176,151
Other comprehensive income - cash flow hedges	27,372
Balance at Sep. 30, 2018		5,915,203	0	5,915,203
Balance at Mar. 31, 2018		6,032,546	0	6,032,546
Changes in partners' capital:
Net income	48,059	48,059		48,059
Deemed contribution - tax sharing agreement	1,263	1,263		1,263
Dividends and distributions declared	(114,399)	(114,399)		(114,399)
Share-based compensation	556	556		556
Other comprehensive income - cash flow hedges	6,281	6,281		6,281
Other		(3)		(3)
Balance at Jun. 30, 2018		5,974,303	0	5,974,303
Changes in partners' capital:
Net income	69,923	69,923		69,923
Deemed contribution - tax sharing agreement	2,418	2,418		2,418
Dividends and distributions declared	(116,395)	(116,395)		(116,395)
Share-based compensation	576	576		576
Other comprehensive income - cash flow hedges	4,736	4,736		4,736
Other		(20,358)		(20,358)
Balance at Sep. 30, 2018		5,915,203	0	5,915,203
Balance at Dec. 31, 2018		5,845,506	0	5,845,506
Changes in partners' capital:
Net income	66,364	66,364		66,364
Deemed contribution - tax sharing agreement	1,345	1,345		1,345
Dividends and distributions declared	(139,279)	(139,279)		(139,279)
Issuance of Class A shares	548,391
Issuance of Operating Partnership units		548,391		548,391
Acquisitions					$ 379,050	$ 379,050	$ 31,875	$ 31,875
Share-based compensation	565	565		565
Other comprehensive income - cash flow hedges	(15,612)	(15,612)		(15,612)
Other		(1,288)		(1,288)
Balance at Mar. 31, 2019		6,716,917	0	6,716,917
Balance at Dec. 31, 2018		5,845,506	0	5,845,506
Changes in partners' capital:
Net income	202,686	202,686
Other comprehensive income - cash flow hedges	(65,657)
Balance at Sep. 30, 2019		6,384,304	0	6,384,304
Balance at Mar. 31, 2019		6,716,917	0	6,716,917
Changes in partners' capital:
Net income	67,769	67,769		67,769
Deemed contribution - tax sharing agreement	2,275	2,275		2,275
Dividends and distributions declared	(136,671)	(136,671)		(136,671)
Issuance of Class A shares	64,908	64,908		64,908
Northfield OpCo Transaction		(298,957)		(298,957)
Share-based compensation	524	524		524
Other comprehensive income - cash flow hedges	(30,775)	(30,775)		(30,775)
Other		542		542
Balance at Jun. 30, 2019		6,386,532	0	6,386,532
Changes in partners' capital:
Net income	68,553	68,553		68,553
Deemed contribution - tax sharing agreement	1,979	1,979		1,979
Dividends and distributions declared	(138,730)	(138,730)		(138,730)
Issuance of Class A shares	86,063	86,063		86,063
Share-based compensation	519	519		519
Other comprehensive income - cash flow hedges	$ (19,270)	(19,270)		(19,270)
Other		(1,342)		(1,342)
Balance at Sep. 30, 2019		$ 6,384,304	$ 0	$ 6,384,304

Business

Business	9 Months Ended
	Sep. 30, 2019
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 in October 2015. MGP conducts its operations through MGM Growth Properties Operating Partnership LP (the “Operating Partnership” and, together with the Company, the “Registrants”), a Delaware limited partnership that was formed in January 2016 and acquired by MGP in April 2016. The Company elected to be treated as a real estate investment trust (“REIT”) commencing with its taxable year ended December 31, 2016. MGP 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 properties, 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 to a wholly owned subsidiary (the “Tenant”) of MGM Resorts International (“MGM”) under a master lease agreement (the “Master Lease”). As of September 30, 2019 , there were approximately 295.2 million Operating Partnership units outstanding in the Operating Partnership, of which MGM owned approximately 199.7 million, or 67.7% , and MGP owned the remaining 32.3% . MGM’s Operating Partnership units are exchangeable for Class A shares of MGP on a one -to-one basis, or cash at the fair value of a Class A share. MGP’s independent conflicts committee determines the settlement method for any such exchanges. 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. MGM also has 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. Empire City Transaction On January 29, 2019, the Company acquired the developed real property associated with Empire City Casino (“Empire City”) from MGM upon its acquisition of Empire City (“Empire City Transaction”) and Empire City was added to the existing Master Lease between the Landlord and Tenant. Refer to Note 3 for additional details on the Empire City Transaction and Note 5 for further discussion on the Master Lease. Park MGM Transaction On March 7, 2019, the Company completed the transaction relating to renovations undertaken by MGM Resorts regarding the Park MGM and NoMad Las Vegas property (the “Park MGM Transaction”). Refer to Note 5 for further discussion on the Master Lease. Northfield OpCo Transaction

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation. The accompanying condensed 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. Certain reclassifications have been made to conform the prior period presentation. The accompanying condensed 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. Variable Interest Entities. The condensed consolidated financial statements of MGP include the accounts of the Operating Partnership, a variable interest entity (“VIE”) of which the Company is the primary beneficiary, as well as its wholly owned and majority-owned subsidiaries, which represents all of MGP’s assets and liabilities. As MGP 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. The condensed consolidated financial statements of the Operating Partnership include the accounts of its wholly owned subsidiary, the Landlord, which owns the real estate, a VIE of which the Operating Partnership is the primary beneficiary. As of September 30, 2019 , on a consolidated basis, the Landlord had total assets of $11.8 billion primarily related to its real estate assets, and total liabilities of $462.5 million primarily related to its deferred revenue and operating lease liabilities. 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 election 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. Fair value measurements. Fair value measurements are utilized in the accounting and impairment assessments of its long-lived assets, assets acquired and liabilities assumed in a business combination, and goodwill and other intangible assets. Fair value measurements also affect the Company’s accounting for certain of its financial assets and liabilities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and is measured according to a hierarchy that includes: Level 1 inputs, such as quoted prices in an active market; Level 2 inputs, which are observable inputs for similar assets; or Level 3 inputs, which are unobservable inputs. The Company used the following inputs in its fair value measurements: • Level 2 inputs for its long-term debt fair value disclosures. See Note 6; and • Level 2 inputs when measuring the fair value of its interest rate swaps. See Note 7. Real estate investments. Real estate investments consist of land, buildings, improvements and integral equipment related to the Landlord. The majority of the Company’s real property was contributed or acquired by the Operating Partnership from MGM as transactions between entities under common control, and as a result, 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 contribution or acquisition dates. For real property acquired from third parties, such assets were recognized at fair value at the acquisition date. 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. Non-Normal Tenant Improvements were $48.4 million at September 30, 2019 . Lease incentive asset. The Company’s lease incentive asset consists of the consideration paid to MGM as part of the Park MGM Transaction, net of the deferred revenue balance associated with Non-Normal Tenant Improvements related to Park MGM, which was derecognized. The Company amortizes the lease incentive asset as a reduction of rental income over the remaining term of the Master Lease. Deferred revenue. The Company received nonmonetary consideration related to Non-Normal Tenant Improvements as they became MGP’s property pursuant to the Master Lease and recognized 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 were placed in service. Ground lease and other reimbursable expenses. Ground lease and other reimbursable expenses arise from costs which upon adoption of ASC 842, includes ground lease rent paid directly by the Tenant to the third-party lessor on behalf of the Company. Prior to the adoption of ASC 842 on January 1, 2019, as further described below, reimbursable expenses also included property taxes paid for by the Tenant on behalf of the Company pursuant to the triple-net lease terms of the Master Lease. 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 ten 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 paid under the provisions of the Master Lease is recorded as deferred rent receivable and included as a component of tenant and other receivables, net or as deferred revenue if cash rent due exceeds rental revenue earned. Tenant reimbursement revenue and other reflects the amortization of deferred revenue relating to Non-Normal Tenant Improvements as well as the non-cash ground lease reimbursement revenue from the Tenant. Prior to the adoption of ASC 842 in 2019, the Company also reflected within this amount the revenue that arises from costs for which the Company is the primary obligor that are required to be paid by the Tenant or reimbursed to the Company pursuant to the Master Lease such as property taxes. This revenue is recognized in the same periods as the expense is incurred. Lessee leases. The Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains a lease if there are identified assets and the right to control the use of an identified asset is conveyed for a period in exchange for consideration. Control over the use of the identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. For leases with terms greater than twelve months, the operating lease right-of-use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The initial measurement of the operating lease ROU assets also includes any prepaid lease payments and are reduced by any previously accrued deferred rent. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company uses its incremental borrowing rate to discount the lease payments based on the information available at commencement date. Certain of the Company’s leases include fixed rental escalation clauses that are factored into the determination of lease payments. Lease terms include options to extend or terminate the lease when it is reasonably certain that such option will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term. Reportable segment. In connection with the Northfield OpCo Transaction on April 1, 2019, the Company transferred the Northfield Operations to a subsidiary of MGM, the Company retained the real estate, and the Company’s TRS that owned Northfield was liquidated immediately prior to the transfer. Consequently, the Company now solely generates revenue from its real estate properties. The Company’s real estate properties are similar to one another 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. 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 on income from continuing operations was 2.8% and 3.0% for the three and nine months ended September 30, 2019 , respectively, and 4.5% and 3.1% for the three and nine months ended September 30, 2018 , respectively. 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 basis 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 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 and, accordingly, the related income tax balances related to such taxes is reflected within noncontrolling interest within the accompanying financial statements. No amounts were due to MGM under the tax sharing agreement as of September 30, 2019 and December 31, 2018 . Prior to April 1, 2019, the Company’s TRS owned the real estate assets and operations of Northfield and the Company recorded a tax provision on the income from the TRS operations. In connection with the Northfield OpCo Transaction, the TRS was liquidated on April 1, 2019 and the Company transferred the Northfield operations to a subsidiary of MGM and the Company retained the real estate. Consequently, the Company does not provide a tax provision on TRS operations after April 1, 2019. Recently issued accounting standards. In February 2016, the FASB issued ASC 842 “Leases (Topic 842)”, which replaces the existing guidance in Topic 840, “Leases”, (“ASC 842”). ASC 842 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. ASC 842 requires a dual approach for lessee accounting under which a lessee would classify and account for its lease agreements as either finance or operating. Both finance and operating leases will result in the lessee recognizing a ROU asset and a corresponding lease liability. For finance leases, the lessee will recognize interest expense associated with the lease liability and depreciation expense associated with the ROU asset; and for operating leases, the lessee will recognize straight-line rent expense. The Company adopted ASC 842 on January 1, 2019 utilizing the simplified transition method and accordingly did not recast comparative period financial information. The Company elected the package of practical expedients available under ASC 842, which includes that the Company need not reassess the lease classification for existing contracts. Accordingly, the Master Lease continues to be classified as an operating lease as of January 1, 2019. ASC 842 requires lessors to exclude from variable payments, and therefore from revenue, lessor costs paid by lessees directly to third parties. Under the Master Lease, the lessee pays property tax directly to third parties; accordingly, the Company no longer reflect such costs as “Tenant reimbursements and other” within revenues or “Ground lease and other reimbursable expenses” within expenses as of January 1, 2019. The Company is also a lessee in lease arrangements, primarily for land underlying certain of its properties. As a result of adoption, the Company recognized approximately $279.9 million of operating ROU assets and approximately $333.5 million of operating lease liabilities as of January 1, 2019.

Acquisitions and dispositions

Acquisitions and dispositions	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Acquisitions and dispositions	ACQUISITIONS AND DISPOSITIONS Empire City Acquisition As discussed in Note 1, on January 29, 2019, the Company acquired the developed real property associated with Empire City from MGM for fair value consideration of approximately $634.4 million . The Company funded the acquisition of the developed real property from MGM through the assumption of approximately $246.0 million of indebtedness, which was repaid with borrowings under its senior secured credit facility, and the issuance of approximately 12.9 million Operating Partnership units to MGM. Empire City was added to the existing Master Lease between the Landlord and Tenant, as further discussed in Note 5. The Empire City Transaction was accounted for as a transaction between entities under common control and, therefore, the Company recorded the Empire City real estate assets at the carryover value of $625.0 million from MGM with the difference between the purchase price and carrying value of assets, which was approximately $9.4 million , recorded as a reduction to additional paid-in-capital. Northfield Acquisition and Northfield OpCo Transaction On July 6, 2018 the TRS completed its acquisition of 100% of the membership interests of Northfield for a purchase price of approximately $1.1 billion . The Company recognized 100% of the assets and liabilities of Northfield at fair value at the date of the acquisition. On April 1, 2019, the Company transferred Northfield OpCo to a subsidiary of MGM for fair value consideration of approximately $305.2 million consisting primarily of approximately 9.4 million Operating Partnership units that were ultimately redeemed by the Operating Partnership and the Company retained the real estate assets. The Company’s TRS that owned Northfield liquidated immediately prior to the transfer. Subsequently, MGM rebranded Northfield OpCo to MGM Northfield Park, which was then added to the existing Master Lease between the Landlord and Tenant. Refer to Note 5 for further discussion on the Master Lease. The Northfield OpCo Transaction was accounted for as a transaction between entities under common control and, therefore, the Company had carried the Northfield OpCo operating assets and liabilities as held and used until the close of the transaction on April 1, 2019. As a transaction between entities under common control, the Company recorded the difference between the purchase price of $305.2 million and the carrying value of net assets transferred of $292.3 million to additional paid-in-capital. The Company’s results for Northfield OpCo for the three and nine months ended September 30, 2018 and the nine months ended September 30, 2019 are reflected in discontinued operations on the consolidated statement of operations and the related assets and liabilities have been reclassified as assets held for sale and liabilities related to assets held for sale on the consolidated balance sheet on a retrospective basis. The retained MGM Northfield Park real estate assets have been retrospectively reclassified into real estate investments, net. The major classes of assets and liabilities of the Northfield OpCo presented as assets and liabilities related to assets held for sale as of December 31, 2018 were as follows: December 31, 2018 Assets held for sale (in thousands) Property and equipment, used in operations, net $ 20,391 Cash and cash equivalents 55,822 Tenant and other receivables, net 7,322 Prepaid expenses and other assets 3,024 Goodwill 17,915 Other intangible assets, net 251,214 Assets held for sale $ 355,688 Liabilities related to assets held for sale Due to MGM Resorts International and affiliates $ 80 Accounts payable, accrued expenses and other liabilities 28,806 Deferred revenue 51 Liabilities related to assets held for sale $ 28,937 The results of the Northfield OpCo discontinued operations are summarized as follows: Nine Months Ended September 30, Three and Nine Months Ended September 30, 2019 (1) 2018 (2) Total revenues $ 67,841 $ 65,562 Total expenses (48,735 ) (48,997 ) Income from discontinued operations before income taxes 19,106 16,565 Provision for income taxes (2,890 ) (2,616 ) Income from discontinued operations, net of tax 16,216 13,949 Less: Income attributable to noncontrolling interests - discontinued operations (11,434 ) (10,231 ) Income from discontinued operations attributable to Class A shareholders $ 4,782 $ 3,718 (1) There was no income from discontinued operations for the three months ended September 30, 2019. (2) As Northfield was acquired on July 6, 2018, the results of the Northfield OpCo discontinued operations are the same for both the three and nine months ended September 30, 2018.

Real Estate Investments

Real Estate Investments	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
REAL ESTATE INVESTMENTS	REAL ESTATE INVESTMENTS The carrying value of real estate investments is as follows: September 30, 2019 December 31, 2018 (in thousands) Land $ 4,631,013 $ 4,536,013 Buildings, building improvements, land improvements and integral equipment 9,281,926 8,782,321 13,912,939 13,318,334 Less: Accumulated depreciation (3,018,818 ) (2,812,205 ) $ 10,894,121 $ 10,506,129

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	LEASES Master Lease. Pursuant to the Master Lease, the Tenant has leased the Company’s real estate properties. The Master Lease is accounted for as an operating lease and has an initial lease term of ten years that began on April 25, 2016 (other than with respect to MGM National Harbor, as described below) with the potential to extend the term for four additional five -year terms thereafter at the option of the Tenant. With respect to MGM National Harbor, the initial lease term ends on August 31, 2024. Thereafter, the initial term of the Master Lease with respect to MGM National Harbor may be renewed at the option of the Tenant for an initial renewal period lasting until the earlier of the end of the then-current term of the Master Lease or the next renewal term (depending on whether MGM elects to renew the other properties under the Master Lease in connection with the expiration of the initial ten-year term). If, however, the Tenant chooses not to renew the lease with respect to MGM National Harbor after the initial MGM National Harbor term under the Master Lease, the Tenant would also lose the right to renew the Master Lease with respect to the rest of the properties when the initial ten-year lease term ends related to the rest of the properties in 2026. On January 29, 2019, Empire City was added to the existing Master Lease between the Landlord and Tenant. As a result, the annual rent payment to MGP increased by $50 million , prorated for the remainder of the lease year. Consistent with the Master Lease terms, 90% of this rent is fixed and will contractually grow at 2% per year until 2022. In addition, pursuant to the Master Lease, MGP has a right of first offer with respect to certain undeveloped land adjacent to the property to the extent MGM develops additional gaming facilities and chooses to sell or transfer the property in the future. On March 7, 2019, the Company completed the Park MGM Transaction and amended the existing Master Lease between the Landlord and Tenant concurrent with which the Company paid $637.5 million , of which $605.6 million was cash and the remainder was the issuance of approximately 1.0 million of Operating Partnership units, to a subsidiary of MGM and, as a result, the annual rent payment to the Company increased by $50 million , prorated for the remainder of the lease year. Consistent with the Master Lease terms, 90% of this rent is fixed and will contractually grow at 2% per year until 2022. The Company recorded a lease incentive asset which represents the consideration paid, less the existing deferred revenue balance of $94.0 million relating to the non-normal tenant improvements recorded for Park MGM, which was derecognized. The Company was required to reassess the lease classification of the Master Lease and concluded that the Master Lease continued to be an operating lease. On April 1, 2019, MGM Northfield Park was added to the existing Master Lease and the annual rent payment increased by $60 million . Consistent with the Master Lease terms, 90% of this rent is fixed and will contractually grow at 2% per year until 2022. The annual rent payments under the Master Lease for the fourth lease year, which commenced on April 1, 2019, increased to $946.1 million from $770.3 million at the start of the third lease year. The increase was a result of the $50 million in additional rent for each of the Park MGM Transaction and Empire City in the beginning of 2019, the $60 million of additional rent for MGM Northfield Park on April 1, 2019, as well as the third 2.0% fixed annual rent escalator that went into effect on April 1, 2019. Straight-line rental revenues from the Master Lease, which includes the lease incentive asset amortization, were $219.8 million and $636.6 million for the three and nine months ended September 30, 2019 , respectively, and were $186.6 million and $559.7 million for the three and nine months ended September 30, 2018 , respectively. The Company also recognized revenue related to tenant reimbursements and other of $6.2 million and $18.6 million for the three and nine months ended September 30, 2019 , respectively, and $30.1 million and $93.2 million for the three and nine months ended September 30, 2018 , respectively. Under the Master Lease, future non-cancelable minimum rental cash payments, which are the payments under the initial 10-year term through April 30, 2026 and do not include the four five-year renewal options and, with respect to National Harbor, through August 31, 2024, are as follows as of September 30, 2019 : Year ending December 31, (in thousands) 2019 $ 236,515 2020 958,894 2021 976,262 2022 912,751 2023 890,126 Thereafter 1,922,713 $ 5,897,261 Lessee Leases. The Company is a lessee of land underlying Borgata, MGM National Harbor, and Beau Rivage, and also a lessee, to a lesser extent, of certain real estate under operating lease arrangements. The Company is obligated to make lease payments through the non-cancelable term of the ground leases, which is through 2066 for Beau Rivage, through 2070 for Borgata, and through 2082 for MGM National Harbor. These ground leases will be paid by the Tenant pursuant to the Master Lease through 2046 (including renewal periods). Components of lease expense for the three and nine months ended September 30, 2019 include operating lease cost of $5.9 million and $17.9 million , respectively. Other information related to the Company’s operating leases was as follows (in thousands, except for lease term and discount rate information): Supplemental balance sheet information Balance at September 30, 2019 Operating lease right-of-use assets $ 280,020 Operating lease liabilities 336,452 Weighted-average remaining lease term (years) 59 Weighted-average discount rate (%) 7 % Maturities of operating lease liabilities were as follows: Year ending December 31, (in thousands) 2019 (excluding the nine months ended September 30, 2019) $ 4,541 2020 21,113 2021 24,996 2022 25,015 2023 24,875 Thereafter 1,357,650 Total future minimum lease payments 1,458,190 Less: Amount of lease payments representing interest (1,121,738 ) Total $ 336,452
Leases	LEASES Master Lease. Pursuant to the Master Lease, the Tenant has leased the Company’s real estate properties. The Master Lease is accounted for as an operating lease and has an initial lease term of ten years that began on April 25, 2016 (other than with respect to MGM National Harbor, as described below) with the potential to extend the term for four additional five -year terms thereafter at the option of the Tenant. With respect to MGM National Harbor, the initial lease term ends on August 31, 2024. Thereafter, the initial term of the Master Lease with respect to MGM National Harbor may be renewed at the option of the Tenant for an initial renewal period lasting until the earlier of the end of the then-current term of the Master Lease or the next renewal term (depending on whether MGM elects to renew the other properties under the Master Lease in connection with the expiration of the initial ten-year term). If, however, the Tenant chooses not to renew the lease with respect to MGM National Harbor after the initial MGM National Harbor term under the Master Lease, the Tenant would also lose the right to renew the Master Lease with respect to the rest of the properties when the initial ten-year lease term ends related to the rest of the properties in 2026. On January 29, 2019, Empire City was added to the existing Master Lease between the Landlord and Tenant. As a result, the annual rent payment to MGP increased by $50 million , prorated for the remainder of the lease year. Consistent with the Master Lease terms, 90% of this rent is fixed and will contractually grow at 2% per year until 2022. In addition, pursuant to the Master Lease, MGP has a right of first offer with respect to certain undeveloped land adjacent to the property to the extent MGM develops additional gaming facilities and chooses to sell or transfer the property in the future. On March 7, 2019, the Company completed the Park MGM Transaction and amended the existing Master Lease between the Landlord and Tenant concurrent with which the Company paid $637.5 million , of which $605.6 million was cash and the remainder was the issuance of approximately 1.0 million of Operating Partnership units, to a subsidiary of MGM and, as a result, the annual rent payment to the Company increased by $50 million , prorated for the remainder of the lease year. Consistent with the Master Lease terms, 90% of this rent is fixed and will contractually grow at 2% per year until 2022. The Company recorded a lease incentive asset which represents the consideration paid, less the existing deferred revenue balance of $94.0 million relating to the non-normal tenant improvements recorded for Park MGM, which was derecognized. The Company was required to reassess the lease classification of the Master Lease and concluded that the Master Lease continued to be an operating lease. On April 1, 2019, MGM Northfield Park was added to the existing Master Lease and the annual rent payment increased by $60 million . Consistent with the Master Lease terms, 90% of this rent is fixed and will contractually grow at 2% per year until 2022. The annual rent payments under the Master Lease for the fourth lease year, which commenced on April 1, 2019, increased to $946.1 million from $770.3 million at the start of the third lease year. The increase was a result of the $50 million in additional rent for each of the Park MGM Transaction and Empire City in the beginning of 2019, the $60 million of additional rent for MGM Northfield Park on April 1, 2019, as well as the third 2.0% fixed annual rent escalator that went into effect on April 1, 2019. Straight-line rental revenues from the Master Lease, which includes the lease incentive asset amortization, were $219.8 million and $636.6 million for the three and nine months ended September 30, 2019 , respectively, and were $186.6 million and $559.7 million for the three and nine months ended September 30, 2018 , respectively. The Company also recognized revenue related to tenant reimbursements and other of $6.2 million and $18.6 million for the three and nine months ended September 30, 2019 , respectively, and $30.1 million and $93.2 million for the three and nine months ended September 30, 2018 , respectively. Under the Master Lease, future non-cancelable minimum rental cash payments, which are the payments under the initial 10-year term through April 30, 2026 and do not include the four five-year renewal options and, with respect to National Harbor, through August 31, 2024, are as follows as of September 30, 2019 : Year ending December 31, (in thousands) 2019 $ 236,515 2020 958,894 2021 976,262 2022 912,751 2023 890,126 Thereafter 1,922,713 $ 5,897,261 Lessee Leases. The Company is a lessee of land underlying Borgata, MGM National Harbor, and Beau Rivage, and also a lessee, to a lesser extent, of certain real estate under operating lease arrangements. The Company is obligated to make lease payments through the non-cancelable term of the ground leases, which is through 2066 for Beau Rivage, through 2070 for Borgata, and through 2082 for MGM National Harbor. These ground leases will be paid by the Tenant pursuant to the Master Lease through 2046 (including renewal periods). Components of lease expense for the three and nine months ended September 30, 2019 include operating lease cost of $5.9 million and $17.9 million , respectively. Other information related to the Company’s operating leases was as follows (in thousands, except for lease term and discount rate information): Supplemental balance sheet information Balance at September 30, 2019 Operating lease right-of-use assets $ 280,020 Operating lease liabilities 336,452 Weighted-average remaining lease term (years) 59 Weighted-average discount rate (%) 7 % Maturities of operating lease liabilities were as follows: Year ending December 31, (in thousands) 2019 (excluding the nine months ended September 30, 2019) $ 4,541 2020 21,113 2021 24,996 2022 25,015 2023 24,875 Thereafter 1,357,650 Total future minimum lease payments 1,458,190 Less: Amount of lease payments representing interest (1,121,738 ) Total $ 336,452

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
DEBT	DEBT Debt consists of the following: September 30, December 31, 2019 2018 (in thousands) Senior secured credit facility: Senior secured term loan A facility $ 467,063 $ 470,000 Senior secured term loan B facility 1,785,250 1,799,125 Senior secured revolving credit facility — 550,000 $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 $750 million 5.75% senior notes, due 2027 750,000 — $350 million 4.50% senior notes, due 2028 350,000 350,000 4,902,313 4,719,125 Less: Unamortized discount and debt issuance costs (54,905 ) (52,176 ) $ 4,847,408 $ 4,666,949 Operating Partnership credit agreement. At September 30, 2019 , the Operating Partnership senior credit facility consisted of a $467 million term loan A facility, a $1.8 billion term loan B facility, and a $1.4 billion revolving credit facility. At September 30, 2019 , no amounts were drawn on the revolving credit facility. At September 30, 2019 , the interest rate on each of the term loan A facility and the term loan B facility was 4.04% . The Operating Partnership was in compliance with its financial covenants at September 30, 2019 . Refer to Note 7 for further discussion of the Company’s interest rate swap agreements. Bridge Facility. In connection with the Empire City Transaction, the Operating Partnership assumed $246.0 million of indebtedness under a bridge facility from MGM. The Operating Partnership repaid the bridge facility with a combination of cash on hand and a draw on its revolving credit facility. Operating Partnership senior notes. In January 2019, the Operating Partnership issued $750 million in aggregate principal amount of 5.75% senior notes due 2027. The senior notes mature on February 1, 2027. Interest on the senior notes is payable on February 1 and August 1 of each year, commencing on August 1, 2019. Fair value of long-term debt. The estimated fair value of the Company’s long-term debt was $5.1 billion at September 30, 2019 and $4.5 billion at December 31, 2018 . Fair value was estimated using quoted prices for identical or similar liabilities in markets that are not active (level 2 inputs). Deferred financing costs. The Company recognized non-cash interest expense related to the amortization of deferred financing costs of $3.2 million and $9.6 million during the three and nine months ended September 30, 2019 , respectively. The Company recognized non-cash interest expense related to the amortization of deferred financing costs of $3.3 million and $9.4 million during the three and nine months ended September 30, 2018 , respectively.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	9 Months Ended
	Sep. 30, 2019
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, summarized in the table below, to mitigate the interest rate risk inherent in its senior credit facility. As of September 30, 2019 , the Operating Partnership pays a weighted average fixed rate of 1.707% on a total notional amount of $1.5 billion . Notional Amount Weighted Average Fixed Rate Fair Value Asset (Liability) Effective Date Maturity Date (in thousands, except percentages) $ 300,000 1.158 % $ 3,393 September 6, 2019 December 31, 2024 $ 1,200,000 1.844 % $ (9,926 ) May 3, 2017 November 30, 2021 400,000 2.252 % (31,370 ) October 1, 2019 December 31, 2029 900,000 1.801 % (13,274 ) November 30, 2021 December 31, 2024 $ (54,570 ) In June 2019, the Operating Partnership entered into interest rate swap agreements, effective November 30, 2021 , that will mature in December 2024 with a combined notional amount of $900 million . The weighted average fixed rate paid under the swap agreements is 1.801% and the variable rate received resets monthly to the one-month LIBOR with no minimum floor. In September 2019, the Operating Partnership entered into an interest rate swap agreement, effective September 6, 2019 , that will mature in December 2024 with a notional amount of $300 million . The fixed rate paid under the swap agreement is 1.158% and the variable rate received resets monthly to the one-month LIBOR with no minimum floor. In September 2019, the Operating Partnership modified and extended certain of its existing interest rate swaps with a combined notional amount of $400 million , effective October 1, 2019 . The weighted average fixed rate paid under the modified swap agreements is 2.252% and the variable rate received resets monthly to the one-month LIBOR with no minimum floor. The maturity date was extended to December 2029 . As of September 30, 2019 , and December 31, 2018 , all of the Company’s derivative financial instruments have been designated as cash flow hedges and qualify for hedge accounting. The Company expects to have variable rate debt outstanding for the duration and amount of its interest rate swap agreements. As of September 30, 2019 , the fair values of the Company's interest rate swaps were $3.4 million recorded as an asset within prepaid expenses and other assets, and $54.6 million recorded as a liability within accounts payable, accrued expenses, and other liabilities. As of December 31, 2018 , the fair values of the Company’s interest rate swaps were $20.5 million , recorded as an asset within prepaid expenses and other assets, and $5.6 million

Shareholders' Equity and Partne

Shareholders' Equity and Partners' Capital	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
SHAREHOLDERS' EQUITY AND PARTNERS' CAPITAL	SHAREHOLDERS’ EQUITY AND PARTNERS’ CAPITAL MGP shareholders. On January 31, 2019, the Company completed an offering of 19.6 million Class A shares representing limited liability company interests in a registered public offering, including 2.6 million Class A shares sold pursuant to the exercise in full by the underwriters of their over-allotment option, for net proceeds of approximately $548.4 million . On April 30, 2019, the Company entered into an “at-the-market-offering” (“ATM”) program where the Company can offer and sell up to an aggregate sales price of $300 million of MGP’s Class A shares through its sales agents at prevailing market prices or agreed-upon prices. During the three months ended September 30, 2019 , the Company issued 2.8 million Class A shares under the program for net proceeds of approximately $86.1 million . During the nine months ended September 30, 2019 , the Company issued 4.9 million Class A shares under the program for net proceeds of approximately $151.0 million . Operating Partnership capital. On January 29, 2019, in connection with the Empire City Transaction, the Operating Partnership issued 12.9 million Operating Partnership units to a subsidiary of MGM and MGP’s indirect ownership percentage in the Operating Partnership decreased from 26.7% to 25.4% . On January 31, 2019, in connection with the Company’s registered offering of Class A shares, the Operating Partnership issued 19.6 million Operating Partnership units to the Company and MGP’s indirect ownership percentage in the Operating Partnership increased from 25.4% to 30.3% . On March 7, 2019, in connection with the Park MGM Transaction, the Operating Partnership issued 1.0 million Operating Partnership units to a subsidiary of MGM and MGP’s indirect ownership percentage in the Operating Partnership decreased from 30.3% to 30.2% . On April 1, 2019, in connection with the Northfield OpCo Transaction, 9.4 million Operating Partnership units were redeemed by the Operating Partnership and MGP’s indirect ownership percentage in the Operating Partnership increased from 30.2% to 31.2% . During the three and nine months ended September 30, 2019 , in connection with the Company’s issuance of Class A shares under the ATM program, the Operating Partnership issued 2.8 million and 4.9 million Operating Partnership units to the Company, respectively. MGP’s indirect ownership percentage in the Operating Partnership as of September 30, 2019 was 32.3% . Accumulated Other Comprehensive Income (Loss). Comprehensive income (loss) includes net income (loss) and all other non-shareholder changes in equity, or other comprehensive income (loss). Elements of the Company’s accumulated other comprehensive income (loss) are reported in the accompanying condensed consolidated statement of shareholders’ equity. The following table summarizes the changes in accumulated other comprehensive income (loss) by component for the nine months ended September 30, 2019 : Cash Flow Hedges Other Total (in thousands) Balance at January 1, 2019 $ 4,208 $ — $ 4,208 Other comprehensive loss before reclassifications (13,765 ) — (13,765 ) Amounts reclassified from accumulated other comprehensive income to interest expense (1,847 ) — (1,847 ) Empire City Transaction — (195 ) (195 ) Class A share issuances — 774 774 Park MGM Transaction — (16 ) (16 ) Other comprehensive income (loss) (15,612 ) 563 (15,049 ) Less: Other comprehensive loss attributable to noncontrolling interest 10,895 — 10,895 Balance at March 31, 2019 (509 ) 563 54 Other comprehensive loss before reclassifications (29,008 ) — (29,008 ) Amounts reclassified from accumulated other comprehensive income to interest expense (1,767 ) — (1,767 ) Class A share issuances — (105 ) (105 ) Northfield OpCo Transaction — 2 2 Other comprehensive loss (30,775 ) (103 ) (30,878 ) Less: Other comprehensive loss attributable to noncontrolling interest 21,128 — 21,128 Balance at June 30, 2019 (10,156 ) 460 (9,696 ) Other comprehensive loss before reclassifications (17,989 ) — (17,989 ) Amounts reclassified from accumulated other comprehensive loss to interest expense (1,281 ) — (1,281 ) Class A share issuances — (200 ) (200 ) Other comprehensive loss (19,270 ) (200 ) (19,470 ) Less: Other comprehensive loss attributable to noncontrolling interest 13,037 — 13,037 Balance at September 30, 2019 $ (16,389 ) $ 260 $ (16,129 ) MGP dividends and Operating Partnership distributions. On October 15, 2019, the Company paid a dividend of $0.4700 per Class A share upon receipt of its share of the Operating Partnership’s distribution of $0.4700 per unit made the same day. 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.

Net Income Per Class A Share

Net Income Per Class A Share	9 Months Ended
	Sep. 30, 2019
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 per share has not been presented for the Class B shareholder as the Class B share is not entitled to any economic rights in the Company. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (in thousands, except share amounts) Numerator: Income from continuing operations $ 68,553 $ 55,974 $ 186,470 $ 162,202 Income from continuing operations attributable to noncontrolling interest (46,038 ) (40,208 ) (126,924 ) (117,460 ) Income from continuing operations attributable to Class A shares - basic and diluted 22,515 15,766 59,546 44,742 Income from discontinued operations — 13,949 16,216 13,949 Income from discontinued operations attributable to noncontrolling interest — (10,231 ) (11,434 ) (10,231 ) Income from discontinued operations attributable to Class A shares - basic and diluted — 3,718 4,782 3,718 Net income attributable to Class A shares - basic and diluted $ 22,515 $ 19,484 $ 64,328 $ 48,460 Denominator: Weighted average Class A shares outstanding (1) - basic 93,165,443 71,005,052 89,440,552 70,991,129 Effect of dilutive shares for diluted net income per Class A share (2) (3) 157,497 196,739 204,557 183,141 Weighted average Class A shares outstanding (1) - diluted 93,322,940 71,201,791 89,645,109 71,174,270 (1) Includes weighted average deferred share units granted to certain members of the board of directors. (2) No shares related to outstanding share-based compensation awards were excluded due to being antidilutive. (3) Diluted net income per Class A share does not assume conversion of the Operating Partnership units held by MGM as such conversion would be antidilutive.

Net Income Per Operating Partne

Net Income Per Operating Partnership Unit	9 Months Ended
	Sep. 30, 2019
Condensed Income Statements, Captions [Line Items]
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 per share has not been presented for the Class B shareholder as the Class B share is not entitled to any economic rights in the Company. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (in thousands, except share amounts) Numerator: Income from continuing operations $ 68,553 $ 55,974 $ 186,470 $ 162,202 Income from continuing operations attributable to noncontrolling interest (46,038 ) (40,208 ) (126,924 ) (117,460 ) Income from continuing operations attributable to Class A shares - basic and diluted 22,515 15,766 59,546 44,742 Income from discontinued operations — 13,949 16,216 13,949 Income from discontinued operations attributable to noncontrolling interest — (10,231 ) (11,434 ) (10,231 ) Income from discontinued operations attributable to Class A shares - basic and diluted — 3,718 4,782 3,718 Net income attributable to Class A shares - basic and diluted $ 22,515 $ 19,484 $ 64,328 $ 48,460 Denominator: Weighted average Class A shares outstanding (1) - basic 93,165,443 71,005,052 89,440,552 70,991,129 Effect of dilutive shares for diluted net income per Class A share (2) (3) 157,497 196,739 204,557 183,141 Weighted average Class A shares outstanding (1) - diluted 93,322,940 71,201,791 89,645,109 71,174,270 (1) Includes weighted average deferred share units granted to certain members of the board of directors. (2) No shares related to outstanding share-based compensation awards were excluded due to being antidilutive. (3) Diluted net income per Class A share does not assume conversion of the Operating Partnership units held by MGM as such conversion would be antidilutive.
MGP Operating Partnership
Condensed Income Statements, Captions [Line Items]
NET INCOME PER OPERATING PARTNERSHIP UNIT	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. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (in thousands, except share amounts) Numerator: Income from continuing operations $ 68,553 $ 55,974 $ 186,470 $ 162,202 Income from discontinued operations — 13,949 16,216 13,949 Net income - basic and diluted $ 68,553 $ 69,923 $ 202,686 $ 176,151 Denominator: Weighted average Operating Partnership units outstanding (1) - basic 292,867,986 266,139,175 290,661,305 266,125,252 Effect of dilutive shares for diluted net income per Operating Partnership unit (2) 157,497 196,739 204,557 183,141 Weighted average Operating Partnership units outstanding (1) - diluted 293,025,483 266,335,914 290,865,862 266,308,393 (1) Includes weighted average deferred share units granted to certain members of the Board of Directors. (2) No shares related to outstanding share-based compensation awards were excluded due to being antidilutive.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES 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.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	9 Months Ended
	Sep. 30, 2019
Condensed Financial Information Disclosure [Abstract]
CONDENSED CONSOLIDATING FINANCIAL INFORMATION	CONDENSED CONSOLIDATING FINANCIAL INFORMATION The Operating Partnership’s senior notes were co-issued by 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 September 30, 2019 and December 31, 2018 and for the three and nine months ended September 30, 2019 and September 30, 2018 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. CONSOLIDATING BALANCE SHEET INFORMATION September 30, 2019 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Real estate investments, net $ 507 $ — $ 10,893,614 $ — $ 10,894,121 Lease incentive asset — — 532,186 — 532,186 Cash and cash equivalents 153,526 — — — 153,526 Tenant and other receivables, net 463 — — — 463 Intercompany 1,169,999 — — (1,169,999 ) — Prepaid expenses and other assets 15,730 — 11,683 — 27,413 Investments in subsidiaries 10,126,379 — — (10,126,379 ) — Above market lease, asset — — 41,834 — 41,834 Operating lease right-of-use assets 477 — 279,543 — 280,020 Total assets $ 11,467,081 $ — $ 11,758,860 $ (11,296,378 ) $ 11,929,563 Debt, net 4,847,408 — — — 4,847,408 Due to MGM Resorts International and affiliates 298 — — — 298 Intercompany — — 1,169,999 (1,169,999 ) — Accounts payable, accrued expenses and other liabilities 58,457 — 1,480 — 59,937 Accrued interest 37,407 — — — 37,407 Dividend and distribution payable 138,730 — — — 138,730 Deferred revenue — — 95,306 — 95,306 Deferred income taxes, net — — 29,721 — 29,721 Operating lease liabilities 477 — 335,975 — 336,452 Total liabilities 5,082,777 — 1,632,481 (1,169,999 ) 5,545,259 General partner — — — — — Limited partners 6,384,304 — 10,126,379 (10,126,379 ) 6,384,304 Total partners' capital 6,384,304 — 10,126,379 (10,126,379 ) 6,384,304 Total liabilities and partners’ capital $ 11,467,081 $ — $ 11,758,860 $ (11,296,378 ) $ 11,929,563 CONSOLIDATING BALANCE SHEET INFORMATION December 31, 2018 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Real estate investments, net $ 572 $ — $ 10,505,557 $ — $ 10,506,129 Cash and cash equivalents 3,995 — — — 3,995 Tenant and other receivables, net 26 — 7,642 — 7,668 Intercompany 841,179 — — (841,179 ) — Prepaid expenses and other assets 34,813 — — — 34,813 Investments in subsidiaries 9,790,350 — — (9,790,350 ) — Above market lease, asset — — 43,014 — 43,014 Assets held for sale — — 355,688 — 355,688 Total assets $ 10,670,935 $ — $ 10,911,901 $ (10,631,529 ) $ 10,951,307 Debt, net 4,666,949 — — — 4,666,949 Due to MGM Resorts International and affiliates 227 — — — 227 Intercompany — — 841,179 (841,179 ) — Accounts payable, accrued expenses and other liabilities 13,102 — 7,694 — 20,796 Above market lease, liability — — 46,181 — 46,181 Accrued interest 26,096 — — — 26,096 Dividend and distribution payable 119,055 — — — 119,055 Deferred revenue — — 163,926 — 163,926 Deferred income taxes, net — — 33,634 — 33,634 Liabilities related to assets held for sale — — 28,937 — 28,937 Total liabilities 4,825,429 — 1,121,551 (841,179 ) 5,105,801 General partner — — — — — Limited partners 5,845,506 — 9,790,350 (9,790,350 ) 5,845,506 Total partners' capital 5,845,506 — 9,790,350 (9,790,350 ) 5,845,506 Total liabilities and partners’ capital $ 10,670,935 $ — $ 10,911,901 $ (10,631,529 ) $ 10,951,307 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION Three Months Ended September 30, 2019 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Revenues Rental revenue $ — $ — $ 219,847 $ — $ 219,847 Tenant reimbursements and other — — 6,164 — 6,164 Total revenues — — 226,011 — 226,011 Expenses Depreciation 22 — 71,935 — 71,957 Property transactions, net — — 9,921 — 9,921 Ground lease and other reimbursable expenses — — 5,920 — 5,920 Acquisition-related expenses 92 — — — 92 General and administrative 4,476 — — — 4,476 Total expenses 4,590 — 87,776 — 92,366 Equity in earnings of subsidiaries 136,256 — — (136,256 ) — Other income (expense) Interest income 241 — — — 241 Interest expense (63,048 ) — — — (63,048 ) Other (306 ) — — — (306 ) (63,113 ) — — — (63,113 ) Income before income taxes 68,553 — 138,235 (136,256 ) 70,532 Provision for income taxes — — (1,979 ) — (1,979 ) Net income $ 68,553 $ — $ 136,256 $ (136,256 ) $ 68,553 Other comprehensive income Net income $ 68,553 $ — $ 136,256 $ (136,256 ) $ 68,553 Unrealized loss on cash flow hedges, net (19,270 ) — — — (19,270 ) Comprehensive income $ 49,283 $ — $ 136,256 $ (136,256 ) $ 49,283 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION Three Months Ended September 30, 2018 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Revenues Rental revenue $ — $ — $ 186,564 $ — $ 186,564 Tenant reimbursements and other — — 30,095 — 30,095 Total revenues — — 216,659 — 216,659 Expenses Depreciation 45 — 63,423 — 63,468 Property transactions, net — — 339 — 339 Ground lease and other reimbursable expenses — — 29,168 — 29,168 Amortization of above market lease, net — — 171 — 171 Acquisition-related expenses 1,931 — — — 1,931 General and administrative 3,358 — — — 3,358 Total expenses 5,334 — 93,101 — 98,435 Equity in earnings of subsidiaries 129,568 — — (129,568 ) — Other income (expense) Interest income 5,452 — — (5,289 ) 163 Interest expense (58,743 ) — (5,289 ) 5,289 (58,743 ) Other (1,020 ) — — — (1,020 ) (54,311 ) — (5,289 ) — (59,600 ) Income from continuing operations before income taxes 69,923 — 118,269 (129,568 ) 58,624 Provision for income taxes — — (2,650 ) — (2,650 ) Income from continuing operations, net of tax 69,923 — 115,619 (129,568 ) 55,974 Income from discontinued operations, net of tax — — 13,949 — 13,949 Net income $ 69,923 $ — $ 129,568 $ (129,568 ) $ 69,923 Other comprehensive income Net income $ 69,923 $ — $ 129,568 $ (129,568 ) $ 69,923 Unrealized gain on cash flow hedges, net 4,736 — — — 4,736 Comprehensive income $ 74,659 $ — $ 129,568 $ (129,568 ) $ 74,659 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION Nine Months Ended September 30, 2019 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Revenues Rental revenue $ — $ — $ 636,575 $ — $ 636,575 Tenant reimbursements and other — — 18,618 — 18,618 Total revenues — — 655,193 — 655,193 Expenses Depreciation 65 — 222,997 — 223,062 Property transactions, net — — 11,344 — 11,344 Ground lease and other reimbursable expenses — — 17,760 — 17,760 Acquisition-related expenses 8,891 — — — 8,891 General and administrative 12,305 — — — 12,305 Total expenses 21,261 — 252,101 — 273,362 Equity in earnings of subsidiaries 409,665 — — (409,665 ) — Other income (expense) Interest income 7,806 — — (5,617 ) 2,189 Interest expense (190,973 ) — (5,617 ) 5,617 (190,973 ) Other (806 ) — — — (806 ) (183,973 ) — (5,617 ) — (189,590 ) Income from continuing operations before income taxes 204,431 — 397,475 (409,665 ) 192,241 Provision for income taxes (1,745 ) — (4,026 ) — (5,771 ) Income from continuing operations, net of tax 202,686 — 393,449 (409,665 ) 186,470 Income from discontinued operations, net of tax — — 16,216 — 16,216 Net income $ 202,686 $ — $ 409,665 $ (409,665 ) $ 202,686 Other comprehensive income Net income $ 202,686 $ — $ 409,665 $ (409,665 ) $ 202,686 Unrealized loss on cash flow hedges, net (65,657 ) — — — (65,657 ) Comprehensive income $ 137,029 $ — $ 409,665 $ (409,665 ) $ 137,029 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION Nine Months Ended September 30, 2018 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Revenues Rental revenue $ — $ — $ 559,690 $ — $ 559,690 Tenant reimbursements and other — — 93,198 — 93,198 Total revenues — — 652,888 — 652,888 Expenses Depreciation 87 — 199,846 — 199,933 Property transactions, net — — 18,851 — 18,851 Ground lease and other reimbursable expenses — — 90,435 — 90,435 Amortization of above market lease, net — — 514 — 514 Acquisition-related expenses 4,603 — — — 4,603 General and administrative 10,021 — — — 10,021 Total expenses 14,711 — 309,646 — 324,357 Equity in earnings of subsidiaries 346,758 — — (346,758 ) — Other income (expense) Interest income 7,762 — — (5,289 ) 2,473 Interest expense (157,249 ) — (5,289 ) 5,289 (157,249 ) Other (6,409 ) — — — (6,409 ) (155,896 ) — (5,289 ) — (161,185 ) Income from continuing operations before income taxes 176,151 — 337,953 (346,758 ) 167,346 Provision for income taxes — — (5,144 ) — (5,144 ) Income from continuing operations, net of tax 176,151 — 332,809 (346,758 ) 162,202 Income from discontinued operations, net of tax — — 13,949 — 13,949 Net income $ 176,151 $ — $ 346,758 $ (346,758 ) $ 176,151 Other comprehensive income Net income $ 176,151 $ — $ 346,758 $ (346,758 ) $ 176,151 Unrealized gain on cash flow hedges, net 27,372 — — — 27,372 Comprehensive income $ 203,523 $ — $ 346,758 $ (346,758 ) $ 203,523 CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION Nine Months Ended September 30, 2019 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Cash flows from operating activities Net cash provided by (used in) operating activities $ (762,230 ) $ — $ 677,713 $ — $ (84,517 ) Cash flows from investing activities Proceeds from Northfield OpCo Transaction 3,779 — — — 3,779 Net cash provided by investing activities 3,779 — — — 3,779 Cash flows from financing activities Net repayments under bank credit facility (566,813 ) — — — (566,813 ) Proceeds from issuance of debt 750,000 — — — 750,000 Deferred financing costs (9,983 ) — — — (9,983 ) Repayment of assumed bridge facility (245,950 ) — — — (245,950 ) Issuance of Operating Partnership units 699,362 — — — 699,362 Distributions paid (395,005 ) — — — (395,005 ) Cash received by Parent on behalf of Guarantor Subsidiaries, net 677,713 — (677,713 ) — — Other (1,342 ) — — — (1,342 ) Net cash provided by (used in) financing activities 907,982 — (677,713 ) — 230,269 Cash flows from discontinued operations, net Cash flows provided by operating activities, net — — 15,591 — 15,591 Cash flows used in investing activities, net — — (12 ) — (12 ) Cash flows used in financing activities, net — — (37,900 ) — (37,900 ) Net cash used in discontinued operations — — (22,321 ) — (22,321 ) Change in cash and cash equivalents classified as assets held for sale — — (22,321 ) — (22,321 ) Cash and cash equivalents Net increase for the period 149,531 — — — 149,531 Balance, beginning of period 3,995 — — — 3,995 Balance, end of period $ 153,526 $ — $ — $ — $ 153,526 CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION Nine Months Ended September 30, 2018 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Cash flows from operating activities Net cash provided by (used in) operating activities $ (149,511 ) $ — $ 574,348 $ — $ 424,837 Cash flows from investing activities Capital expenditures for property and equipment (191 ) — — — (191 ) Acquisition of Northfield (1,068,337 ) — — (1,068,337 ) Net cash used in investing activities (1,068,528 ) — — — (1,068,528 ) Cash flows from financing activities Net borrowings under bank credit facility 747,375 — — — 747,375 Deferred financing costs (17,490 ) — — — (17,490 ) Distributions paid (337,865 ) — — — (337,865 ) Cash received by Parent on behalf of Guarantor Subsidiaries 574,348 — (574,348 ) — — Net cash provided by (used in) financing activities 966,368 — (574,348 ) — 392,020 Cash flows from discontinued operations, net Cash flows provided by operating activities, net — — 8,250 — 8,250 Cash flows provided by investing activities, net — — 33,199 — 33,199 Cash flows used in financing activities, net — — — — — Net cash provided by discontinued operations — — 41,449 — 41,449 Cash flows from discontinued operations, net Change in cash and cash equivalents classified as assets held for sale — — 41,449 — 41,449 Cash and cash equivalents Net decrease for the period (251,671 ) — — — (251,671 ) Balance, beginning of period 259,722 — — — 259,722 Balance, end of period $ 8,051 $ — $ — $ — $ 8,051

Summary of Significant Accoun_2

Summary of Significant Accounting Policies - (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation. The accompanying condensed 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. Certain reclassifications have been made to conform the prior period presentation.
Variable Interest Entities	Variable Interest Entities.
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 election 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.
Fair Value Measurements	Fair value measurements. Fair value measurements are utilized in the accounting and impairment assessments of its long-lived assets, assets acquired and liabilities assumed in a business combination, and goodwill and other intangible assets. Fair value measurements also affect the Company’s accounting for certain of its financial assets and liabilities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and is measured according to a hierarchy that includes: Level 1 inputs, such as quoted prices in an active market; Level 2 inputs, which are observable inputs for similar assets; or Level 3 inputs, which are unobservable inputs. The Company used the following inputs in its fair value measurements: • Level 2 inputs for its long-term debt fair value disclosures. See Note 6; and • Level 2 inputs when measuring the fair value of its interest rate swaps. See Note 7.
Real Estate Investments	Real estate investments. Real estate investments consist of land, buildings, improvements and integral equipment related to the Landlord. The majority of the Company’s real property was contributed or acquired by the Operating Partnership from MGM as transactions between entities under common control, and as a result, 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 contribution or acquisition dates. For real property acquired from third parties, such assets were recognized at fair value at the acquisition date. Costs of maintenance and repairs to real estate investments are the responsibility of the Tenant under the Master Lease.
Lease Incentive Asset	Lease incentive asset. The Company’s lease incentive asset consists of the consideration paid to MGM as part of the Park MGM Transaction, net of the deferred revenue balance associated with Non-Normal Tenant Improvements related to Park MGM, which was derecognized. The Company amortizes the lease incentive asset as a reduction of rental income over the remaining term of the Master Lease.
Revenue Recognition	Deferred revenue. The Company received nonmonetary consideration related to Non-Normal Tenant Improvements as they became MGP’s property pursuant to the Master Lease and recognized 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 were placed in service. Ground lease and other reimbursable expenses. Ground lease and other reimbursable expenses arise from costs which upon adoption of ASC 842, includes ground lease rent paid directly by the Tenant to the third-party lessor on behalf of the Company. Prior to the adoption of ASC 842 on January 1, 2019, as further described below, reimbursable expenses also included property taxes paid for by the Tenant on behalf of the Company pursuant to the triple-net lease terms of the Master Lease. 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 ten 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 paid under the provisions of the Master Lease is recorded as deferred rent receivable and included as a component of tenant and other receivables, net or as deferred revenue if cash rent due exceeds rental revenue earned. Tenant reimbursement revenue and other reflects the amortization of deferred revenue relating to Non-Normal Tenant Improvements as well as the non-cash ground lease reimbursement revenue from the Tenant. Prior to the adoption of ASC 842 in 2019, the Company also reflected within this amount the revenue that arises from costs for which the Company is the primary obligor that are required to be paid by the Tenant or reimbursed to the Company pursuant to the Master Lease such as property taxes. This revenue is recognized in the same periods as the expense is incurred.
Lessee Leases	Lessee leases. The Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains a lease if there are identified assets and the right to control the use of an identified asset is conveyed for a period in exchange for consideration. Control over the use of the identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. For leases with terms greater than twelve months, the operating lease right-of-use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The initial measurement of the operating lease ROU assets also includes any prepaid lease payments and are reduced by any previously accrued deferred rent. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company uses its incremental borrowing rate to discount the lease payments based on the information available at commencement date. Certain of the Company’s leases include fixed rental escalation clauses that are factored into the determination of lease payments. Lease terms include options to extend or terminate the lease when it is reasonably certain that such option will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term.
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 on income from continuing operations was 2.8% and 3.0% for the three and nine months ended September 30, 2019 , respectively, and 4.5% and 3.1% for the three and nine months ended September 30, 2018 , respectively. 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 basis 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 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 and, accordingly, the related income tax balances related to such taxes is reflected within noncontrolling interest within the accompanying financial statements. No amounts were due to MGM under the tax sharing agreement as of September 30, 2019 and December 31, 2018 .
Recently Issued Accounting Pronouncements	Recently issued accounting standards. In February 2016, the FASB issued ASC 842 “Leases (Topic 842)”, which replaces the existing guidance in Topic 840, “Leases”, (“ASC 842”). ASC 842 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. ASC 842 requires a dual approach for lessee accounting under which a lessee would classify and account for its lease agreements as either finance or operating. Both finance and operating leases will result in the lessee recognizing a ROU asset and a corresponding lease liability. For finance leases, the lessee will recognize interest expense associated with the lease liability and depreciation expense associated with the ROU asset; and for operating leases, the lessee will recognize straight-line rent expense. The Company adopted ASC 842 on January 1, 2019 utilizing the simplified transition method and accordingly did not recast comparative period financial information. The Company elected the package of practical expedients available under ASC 842, which includes that the Company need not reassess the lease classification for existing contracts. Accordingly, the Master Lease continues to be classified as an operating lease as of January 1, 2019. ASC 842 requires lessors to exclude from variable payments, and therefore from revenue, lessor costs paid by lessees directly to third parties. Under the Master Lease, the lessee pays property tax directly to third parties; accordingly, the Company no longer reflect such costs as “Tenant reimbursements and other” within revenues or “Ground lease and other reimbursable expenses” within expenses as of January 1, 2019. The Company is also a lessee in lease arrangements, primarily for land underlying certain of its properties. As a result of adoption, the Company recognized approximately $279.9 million of operating ROU assets and approximately $333.5 million of operating lease liabilities as of January 1, 2019.

Acquisitions and dispositions -

Acquisitions and dispositions - (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Results of discontinued operations	The results of the Northfield OpCo discontinued operations are summarized as follows: Nine Months Ended September 30, Three and Nine Months Ended September 30, 2019 (1) 2018 (2) Total revenues $ 67,841 $ 65,562 Total expenses (48,735 ) (48,997 ) Income from discontinued operations before income taxes 19,106 16,565 Provision for income taxes (2,890 ) (2,616 ) Income from discontinued operations, net of tax 16,216 13,949 Less: Income attributable to noncontrolling interests - discontinued operations (11,434 ) (10,231 ) Income from discontinued operations attributable to Class A shareholders $ 4,782 $ 3,718 (1) There was no income from discontinued operations for the three months ended September 30, 2019. (2) As Northfield was acquired on July 6, 2018, the results of the Northfield OpCo discontinued operations are the same for both the three and nine months ended September 30, 2018. December 31, 2018 Assets held for sale (in thousands) Property and equipment, used in operations, net $ 20,391 Cash and cash equivalents 55,822 Tenant and other receivables, net 7,322 Prepaid expenses and other assets 3,024 Goodwill 17,915 Other intangible assets, net 251,214 Assets held for sale $ 355,688 Liabilities related to assets held for sale Due to MGM Resorts International and affiliates $ 80 Accounts payable, accrued expenses and other liabilities 28,806 Deferred revenue 51 Liabilities related to assets held for sale $ 28,937

Real Estate Investments - (Tabl

Real Estate Investments - (Tables)	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Carrying Value of Real Estate Investments	The carrying value of real estate investments is as follows: September 30, 2019 December 31, 2018 (in thousands) Land $ 4,631,013 $ 4,536,013 Buildings, building improvements, land improvements and integral equipment 9,281,926 8,782,321 13,912,939 13,318,334 Less: Accumulated depreciation (3,018,818 ) (2,812,205 ) $ 10,894,121 $ 10,506,129

Leases - (Tables)

Leases - (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lessor, Operating Lease Minimum Rental Payments	Under the Master Lease, future non-cancelable minimum rental cash payments, which are the payments under the initial 10-year term through April 30, 2026 and do not include the four five-year renewal options and, with respect to National Harbor, through August 31, 2024, are as follows as of September 30, 2019 : Year ending December 31, (in thousands) 2019 $ 236,515 2020 958,894 2021 976,262 2022 912,751 2023 890,126 Thereafter 1,922,713 $ 5,897,261
Lease Cost	Other information related to the Company’s operating leases was as follows (in thousands, except for lease term and discount rate information): Supplemental balance sheet information Balance at September 30, 2019 Operating lease right-of-use assets $ 280,020 Operating lease liabilities 336,452 Weighted-average remaining lease term (years) 59 Weighted-average discount rate (%) 7 %
Operating Lease Maturities	Maturities of operating lease liabilities were as follows: Year ending December 31, (in thousands) 2019 (excluding the nine months ended September 30, 2019) $ 4,541 2020 21,113 2021 24,996 2022 25,015 2023 24,875 Thereafter 1,357,650 Total future minimum lease payments 1,458,190 Less: Amount of lease payments representing interest (1,121,738 ) Total $ 336,452

Debt - (Tables)

Debt - (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt consists of the following: September 30, December 31, 2019 2018 (in thousands) Senior secured credit facility: Senior secured term loan A facility $ 467,063 $ 470,000 Senior secured term loan B facility 1,785,250 1,799,125 Senior secured revolving credit facility — 550,000 $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 $750 million 5.75% senior notes, due 2027 750,000 — $350 million 4.50% senior notes, due 2028 350,000 350,000 4,902,313 4,719,125 Less: Unamortized discount and debt issuance costs (54,905 ) (52,176 ) $ 4,847,408 $ 4,666,949

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities - (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	The Operating Partnership is party to interest rate swaps, summarized in the table below, to mitigate the interest rate risk inherent in its senior credit facility. As of September 30, 2019 , the Operating Partnership pays a weighted average fixed rate of 1.707% on a total notional amount of $1.5 billion . Notional Amount Weighted Average Fixed Rate Fair Value Asset (Liability) Effective Date Maturity Date (in thousands, except percentages) $ 300,000 1.158 % $ 3,393 September 6, 2019 December 31, 2024 $ 1,200,000 1.844 % $ (9,926 ) May 3, 2017 November 30, 2021 400,000 2.252 % (31,370 ) October 1, 2019 December 31, 2029 900,000 1.801 % (13,274 ) November 30, 2021 December 31, 2024 $ (54,570 )

Shareholders' Equity and Part_2

Shareholders' Equity and Partners' Capital - (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income	The following table summarizes the changes in accumulated other comprehensive income (loss) by component for the nine months ended September 30, 2019 : Cash Flow Hedges Other Total (in thousands) Balance at January 1, 2019 $ 4,208 $ — $ 4,208 Other comprehensive loss before reclassifications (13,765 ) — (13,765 ) Amounts reclassified from accumulated other comprehensive income to interest expense (1,847 ) — (1,847 ) Empire City Transaction — (195 ) (195 ) Class A share issuances — 774 774 Park MGM Transaction — (16 ) (16 ) Other comprehensive income (loss) (15,612 ) 563 (15,049 ) Less: Other comprehensive loss attributable to noncontrolling interest 10,895 — 10,895 Balance at March 31, 2019 (509 ) 563 54 Other comprehensive loss before reclassifications (29,008 ) — (29,008 ) Amounts reclassified from accumulated other comprehensive income to interest expense (1,767 ) — (1,767 ) Class A share issuances — (105 ) (105 ) Northfield OpCo Transaction — 2 2 Other comprehensive loss (30,775 ) (103 ) (30,878 ) Less: Other comprehensive loss attributable to noncontrolling interest 21,128 — 21,128 Balance at June 30, 2019 (10,156 ) 460 (9,696 ) Other comprehensive loss before reclassifications (17,989 ) — (17,989 ) Amounts reclassified from accumulated other comprehensive loss to interest expense (1,281 ) — (1,281 ) Class A share issuances — (200 ) (200 ) Other comprehensive loss (19,270 ) (200 ) (19,470 ) Less: Other comprehensive loss attributable to noncontrolling interest 13,037 — 13,037 Balance at September 30, 2019 $ (16,389 ) $ 260 $ (16,129 )

Net Income Per Class A Share -

Net Income Per Class A Share - (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
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 per share has not been presented for the Class B shareholder as the Class B share is not entitled to any economic rights in the Company. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (in thousands, except share amounts) Numerator: Income from continuing operations $ 68,553 $ 55,974 $ 186,470 $ 162,202 Income from continuing operations attributable to noncontrolling interest (46,038 ) (40,208 ) (126,924 ) (117,460 ) Income from continuing operations attributable to Class A shares - basic and diluted 22,515 15,766 59,546 44,742 Income from discontinued operations — 13,949 16,216 13,949 Income from discontinued operations attributable to noncontrolling interest — (10,231 ) (11,434 ) (10,231 ) Income from discontinued operations attributable to Class A shares - basic and diluted — 3,718 4,782 3,718 Net income attributable to Class A shares - basic and diluted $ 22,515 $ 19,484 $ 64,328 $ 48,460 Denominator: Weighted average Class A shares outstanding (1) - basic 93,165,443 71,005,052 89,440,552 70,991,129 Effect of dilutive shares for diluted net income per Class A share (2) (3) 157,497 196,739 204,557 183,141 Weighted average Class A shares outstanding (1) - diluted 93,322,940 71,201,791 89,645,109 71,174,270 (1) Includes weighted average deferred share units granted to certain members of the board of directors. (2) No shares related to outstanding share-based compensation awards were excluded due to being antidilutive. (3) Diluted net income per Class A share does not assume conversion of the Operating Partnership units held by MGM as such conversion would be antidilutive. 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. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (in thousands, except share amounts) Numerator: Income from continuing operations $ 68,553 $ 55,974 $ 186,470 $ 162,202 Income from discontinued operations — 13,949 16,216 13,949 Net income - basic and diluted $ 68,553 $ 69,923 $ 202,686 $ 176,151 Denominator: Weighted average Operating Partnership units outstanding (1) - basic 292,867,986 266,139,175 290,661,305 266,125,252 Effect of dilutive shares for diluted net income per Operating Partnership unit (2) 157,497 196,739 204,557 183,141 Weighted average Operating Partnership units outstanding (1) - diluted 293,025,483 266,335,914 290,865,862 266,308,393 (1) Includes weighted average deferred share units granted to certain members of the Board of Directors. (2) No shares related to outstanding share-based compensation awards were excluded due to being antidilutive.

Net Income Per Operating Part_2

Net Income Per Operating Partnership Unit - (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net Income and Number of Operating Partnership Units 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 per share has not been presented for the Class B shareholder as the Class B share is not entitled to any economic rights in the Company. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (in thousands, except share amounts) Numerator: Income from continuing operations $ 68,553 $ 55,974 $ 186,470 $ 162,202 Income from continuing operations attributable to noncontrolling interest (46,038 ) (40,208 ) (126,924 ) (117,460 ) Income from continuing operations attributable to Class A shares - basic and diluted 22,515 15,766 59,546 44,742 Income from discontinued operations — 13,949 16,216 13,949 Income from discontinued operations attributable to noncontrolling interest — (10,231 ) (11,434 ) (10,231 ) Income from discontinued operations attributable to Class A shares - basic and diluted — 3,718 4,782 3,718 Net income attributable to Class A shares - basic and diluted $ 22,515 $ 19,484 $ 64,328 $ 48,460 Denominator: Weighted average Class A shares outstanding (1) - basic 93,165,443 71,005,052 89,440,552 70,991,129 Effect of dilutive shares for diluted net income per Class A share (2) (3) 157,497 196,739 204,557 183,141 Weighted average Class A shares outstanding (1) - diluted 93,322,940 71,201,791 89,645,109 71,174,270 (1) Includes weighted average deferred share units granted to certain members of the board of directors. (2) No shares related to outstanding share-based compensation awards were excluded due to being antidilutive. (3) Diluted net income per Class A share does not assume conversion of the Operating Partnership units held by MGM as such conversion would be antidilutive. 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. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (in thousands, except share amounts) Numerator: Income from continuing operations $ 68,553 $ 55,974 $ 186,470 $ 162,202 Income from discontinued operations — 13,949 16,216 13,949 Net income - basic and diluted $ 68,553 $ 69,923 $ 202,686 $ 176,151 Denominator: Weighted average Operating Partnership units outstanding (1) - basic 292,867,986 266,139,175 290,661,305 266,125,252 Effect of dilutive shares for diluted net income per Operating Partnership unit (2) 157,497 196,739 204,557 183,141 Weighted average Operating Partnership units outstanding (1) - diluted 293,025,483 266,335,914 290,865,862 266,308,393 (1) Includes weighted average deferred share units granted to certain members of the Board of Directors. (2) No shares related to outstanding share-based compensation awards were excluded due to being antidilutive.

Condensed Consolidating Finan_2

Condensed Consolidating Financial Information - (Tables)	9 Months Ended
	Sep. 30, 2019
Condensed Financial Information Disclosure [Abstract]
Consolidating Balance Sheet Information	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. CONSOLIDATING BALANCE SHEET INFORMATION September 30, 2019 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Real estate investments, net $ 507 $ — $ 10,893,614 $ — $ 10,894,121 Lease incentive asset — — 532,186 — 532,186 Cash and cash equivalents 153,526 — — — 153,526 Tenant and other receivables, net 463 — — — 463 Intercompany 1,169,999 — — (1,169,999 ) — Prepaid expenses and other assets 15,730 — 11,683 — 27,413 Investments in subsidiaries 10,126,379 — — (10,126,379 ) — Above market lease, asset — — 41,834 — 41,834 Operating lease right-of-use assets 477 — 279,543 — 280,020 Total assets $ 11,467,081 $ — $ 11,758,860 $ (11,296,378 ) $ 11,929,563 Debt, net 4,847,408 — — — 4,847,408 Due to MGM Resorts International and affiliates 298 — — — 298 Intercompany — — 1,169,999 (1,169,999 ) — Accounts payable, accrued expenses and other liabilities 58,457 — 1,480 — 59,937 Accrued interest 37,407 — — — 37,407 Dividend and distribution payable 138,730 — — — 138,730 Deferred revenue — — 95,306 — 95,306 Deferred income taxes, net — — 29,721 — 29,721 Operating lease liabilities 477 — 335,975 — 336,452 Total liabilities 5,082,777 — 1,632,481 (1,169,999 ) 5,545,259 General partner — — — — — Limited partners 6,384,304 — 10,126,379 (10,126,379 ) 6,384,304 Total partners' capital 6,384,304 — 10,126,379 (10,126,379 ) 6,384,304 Total liabilities and partners’ capital $ 11,467,081 $ — $ 11,758,860 $ (11,296,378 ) $ 11,929,563 CONSOLIDATING BALANCE SHEET INFORMATION December 31, 2018 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Real estate investments, net $ 572 $ — $ 10,505,557 $ — $ 10,506,129 Cash and cash equivalents 3,995 — — — 3,995 Tenant and other receivables, net 26 — 7,642 — 7,668 Intercompany 841,179 — — (841,179 ) — Prepaid expenses and other assets 34,813 — — — 34,813 Investments in subsidiaries 9,790,350 — — (9,790,350 ) — Above market lease, asset — — 43,014 — 43,014 Assets held for sale — — 355,688 — 355,688 Total assets $ 10,670,935 $ — $ 10,911,901 $ (10,631,529 ) $ 10,951,307 Debt, net 4,666,949 — — — 4,666,949 Due to MGM Resorts International and affiliates 227 — — — 227 Intercompany — — 841,179 (841,179 ) — Accounts payable, accrued expenses and other liabilities 13,102 — 7,694 — 20,796 Above market lease, liability — — 46,181 — 46,181 Accrued interest 26,096 — — — 26,096 Dividend and distribution payable 119,055 — — — 119,055 Deferred revenue — — 163,926 — 163,926 Deferred income taxes, net — — 33,634 — 33,634 Liabilities related to assets held for sale — — 28,937 — 28,937 Total liabilities 4,825,429 — 1,121,551 (841,179 ) 5,105,801 General partner — — — — — Limited partners 5,845,506 — 9,790,350 (9,790,350 ) 5,845,506 Total partners' capital 5,845,506 — 9,790,350 (9,790,350 ) 5,845,506 Total liabilities and partners’ capital $ 10,670,935 $ — $ 10,911,901 $ (10,631,529 ) $ 10,951,307
Consolidating Statement of Operations and Comprehensive Income Information	CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION Three Months Ended September 30, 2019 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Revenues Rental revenue $ — $ — $ 219,847 $ — $ 219,847 Tenant reimbursements and other — — 6,164 — 6,164 Total revenues — — 226,011 — 226,011 Expenses Depreciation 22 — 71,935 — 71,957 Property transactions, net — — 9,921 — 9,921 Ground lease and other reimbursable expenses — — 5,920 — 5,920 Acquisition-related expenses 92 — — — 92 General and administrative 4,476 — — — 4,476 Total expenses 4,590 — 87,776 — 92,366 Equity in earnings of subsidiaries 136,256 — — (136,256 ) — Other income (expense) Interest income 241 — — — 241 Interest expense (63,048 ) — — — (63,048 ) Other (306 ) — — — (306 ) (63,113 ) — — — (63,113 ) Income before income taxes 68,553 — 138,235 (136,256 ) 70,532 Provision for income taxes — — (1,979 ) — (1,979 ) Net income $ 68,553 $ — $ 136,256 $ (136,256 ) $ 68,553 Other comprehensive income Net income $ 68,553 $ — $ 136,256 $ (136,256 ) $ 68,553 Unrealized loss on cash flow hedges, net (19,270 ) — — — (19,270 ) Comprehensive income $ 49,283 $ — $ 136,256 $ (136,256 ) $ 49,283 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION Three Months Ended September 30, 2018 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Revenues Rental revenue $ — $ — $ 186,564 $ — $ 186,564 Tenant reimbursements and other — — 30,095 — 30,095 Total revenues — — 216,659 — 216,659 Expenses Depreciation 45 — 63,423 — 63,468 Property transactions, net — — 339 — 339 Ground lease and other reimbursable expenses — — 29,168 — 29,168 Amortization of above market lease, net — — 171 — 171 Acquisition-related expenses 1,931 — — — 1,931 General and administrative 3,358 — — — 3,358 Total expenses 5,334 — 93,101 — 98,435 Equity in earnings of subsidiaries 129,568 — — (129,568 ) — Other income (expense) Interest income 5,452 — — (5,289 ) 163 Interest expense (58,743 ) — (5,289 ) 5,289 (58,743 ) Other (1,020 ) — — — (1,020 ) (54,311 ) — (5,289 ) — (59,600 ) Income from continuing operations before income taxes 69,923 — 118,269 (129,568 ) 58,624 Provision for income taxes — — (2,650 ) — (2,650 ) Income from continuing operations, net of tax 69,923 — 115,619 (129,568 ) 55,974 Income from discontinued operations, net of tax — — 13,949 — 13,949 Net income $ 69,923 $ — $ 129,568 $ (129,568 ) $ 69,923 Other comprehensive income Net income $ 69,923 $ — $ 129,568 $ (129,568 ) $ 69,923 Unrealized gain on cash flow hedges, net 4,736 — — — 4,736 Comprehensive income $ 74,659 $ — $ 129,568 $ (129,568 ) $ 74,659 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION Nine Months Ended September 30, 2019 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Revenues Rental revenue $ — $ — $ 636,575 $ — $ 636,575 Tenant reimbursements and other — — 18,618 — 18,618 Total revenues — — 655,193 — 655,193 Expenses Depreciation 65 — 222,997 — 223,062 Property transactions, net — — 11,344 — 11,344 Ground lease and other reimbursable expenses — — 17,760 — 17,760 Acquisition-related expenses 8,891 — — — 8,891 General and administrative 12,305 — — — 12,305 Total expenses 21,261 — 252,101 — 273,362 Equity in earnings of subsidiaries 409,665 — — (409,665 ) — Other income (expense) Interest income 7,806 — — (5,617 ) 2,189 Interest expense (190,973 ) — (5,617 ) 5,617 (190,973 ) Other (806 ) — — — (806 ) (183,973 ) — (5,617 ) — (189,590 ) Income from continuing operations before income taxes 204,431 — 397,475 (409,665 ) 192,241 Provision for income taxes (1,745 ) — (4,026 ) — (5,771 ) Income from continuing operations, net of tax 202,686 — 393,449 (409,665 ) 186,470 Income from discontinued operations, net of tax — — 16,216 — 16,216 Net income $ 202,686 $ — $ 409,665 $ (409,665 ) $ 202,686 Other comprehensive income Net income $ 202,686 $ — $ 409,665 $ (409,665 ) $ 202,686 Unrealized loss on cash flow hedges, net (65,657 ) — — — (65,657 ) Comprehensive income $ 137,029 $ — $ 409,665 $ (409,665 ) $ 137,029 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION Nine Months Ended September 30, 2018 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Revenues Rental revenue $ — $ — $ 559,690 $ — $ 559,690 Tenant reimbursements and other — — 93,198 — 93,198 Total revenues — — 652,888 — 652,888 Expenses Depreciation 87 — 199,846 — 199,933 Property transactions, net — — 18,851 — 18,851 Ground lease and other reimbursable expenses — — 90,435 — 90,435 Amortization of above market lease, net — — 514 — 514 Acquisition-related expenses 4,603 — — — 4,603 General and administrative 10,021 — — — 10,021 Total expenses 14,711 — 309,646 — 324,357 Equity in earnings of subsidiaries 346,758 — — (346,758 ) — Other income (expense) Interest income 7,762 — — (5,289 ) 2,473 Interest expense (157,249 ) — (5,289 ) 5,289 (157,249 ) Other (6,409 ) — — — (6,409 ) (155,896 ) — (5,289 ) — (161,185 ) Income from continuing operations before income taxes 176,151 — 337,953 (346,758 ) 167,346 Provision for income taxes — — (5,144 ) — (5,144 ) Income from continuing operations, net of tax 176,151 — 332,809 (346,758 ) 162,202 Income from discontinued operations, net of tax — — 13,949 — 13,949 Net income $ 176,151 $ — $ 346,758 $ (346,758 ) $ 176,151 Other comprehensive income Net income $ 176,151 $ — $ 346,758 $ (346,758 ) $ 176,151 Unrealized gain on cash flow hedges, net 27,372 — — — 27,372 Comprehensive income $ 203,523 $ — $ 346,758 $ (346,758 ) $ 203,523
Consolidating Statement of Cash Flows Information	CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION Nine Months Ended September 30, 2019 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Cash flows from operating activities Net cash provided by (used in) operating activities $ (762,230 ) $ — $ 677,713 $ — $ (84,517 ) Cash flows from investing activities Proceeds from Northfield OpCo Transaction 3,779 — — — 3,779 Net cash provided by investing activities 3,779 — — — 3,779 Cash flows from financing activities Net repayments under bank credit facility (566,813 ) — — — (566,813 ) Proceeds from issuance of debt 750,000 — — — 750,000 Deferred financing costs (9,983 ) — — — (9,983 ) Repayment of assumed bridge facility (245,950 ) — — — (245,950 ) Issuance of Operating Partnership units 699,362 — — — 699,362 Distributions paid (395,005 ) — — — (395,005 ) Cash received by Parent on behalf of Guarantor Subsidiaries, net 677,713 — (677,713 ) — — Other (1,342 ) — — — (1,342 ) Net cash provided by (used in) financing activities 907,982 — (677,713 ) — 230,269 Cash flows from discontinued operations, net Cash flows provided by operating activities, net — — 15,591 — 15,591 Cash flows used in investing activities, net — — (12 ) — (12 ) Cash flows used in financing activities, net — — (37,900 ) — (37,900 ) Net cash used in discontinued operations — — (22,321 ) — (22,321 ) Change in cash and cash equivalents classified as assets held for sale — — (22,321 ) — (22,321 ) Cash and cash equivalents Net increase for the period 149,531 — — — 149,531 Balance, beginning of period 3,995 — — — 3,995 Balance, end of period $ 153,526 $ — $ — $ — $ 153,526 CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION Nine Months Ended September 30, 2018 Operating Guarantor Partnership Co-Issuer Subsidiaries Eliminations Consolidated (in thousands) Cash flows from operating activities Net cash provided by (used in) operating activities $ (149,511 ) $ — $ 574,348 $ — $ 424,837 Cash flows from investing activities Capital expenditures for property and equipment (191 ) — — — (191 ) Acquisition of Northfield (1,068,337 ) — — (1,068,337 ) Net cash used in investing activities (1,068,528 ) — — — (1,068,528 ) Cash flows from financing activities Net borrowings under bank credit facility 747,375 — — — 747,375 Deferred financing costs (17,490 ) — — — (17,490 ) Distributions paid (337,865 ) — — — (337,865 ) Cash received by Parent on behalf of Guarantor Subsidiaries 574,348 — (574,348 ) — — Net cash provided by (used in) financing activities 966,368 — (574,348 ) — 392,020 Cash flows from discontinued operations, net Cash flows provided by operating activities, net — — 8,250 — 8,250 Cash flows provided by investing activities, net — — 33,199 — 33,199 Cash flows used in financing activities, net — — — — — Net cash provided by discontinued operations — — 41,449 — 41,449 Cash flows from discontinued operations, net Change in cash and cash equivalents classified as assets held for sale — — 41,449 — 41,449 Cash and cash equivalents Net decrease for the period (251,671 ) — — — (251,671 ) Balance, beginning of period 259,722 — — — 259,722 Balance, end of period $ 8,051 $ — $ — $ — $ 8,051

Business - Narrative (Details)

Business - Narrative (Details) - shares	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Business And Organization [Line Items]
Ownership percentage acquired ( as a percent )	32.30%
Exchange of Operating Partnership Units to MGP's Class A Shares
Business And Organization [Line Items]
Operating Partnership unit conversion ratio	1
MGM
Business And Organization [Line Items]
Operating Partnership units held (in shares)	199,700,000
Increase in ownership interest in operating partnership ( as a percent )	67.70%
MGP Operating Partnership
Business And Organization [Line Items]
Operating Partnership units outstanding (in shares)	295,170,610	266,045,289

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018	Sep. 30, 2019USD ($)extension	Sep. 30, 2018	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Summary Of Significant Accounting Policies [Line Items]
Treasury yield term			10 years
Percentage points used in calculation for additional rent ( as a percent )			600.00%
Non-normal tenant improvements	$ 48,400,000		$ 48,400,000
Number of lease extension options | extension			4
Effective tax rate	2.80%	4.50%	3.00%	3.10%
Operating lease right-of-use assets	$ 280,020,000		$ 280,020,000		$ 279,900,000	$ 0
Operating lease liabilities	$ 336,452,000		$ 336,452,000		$ 333,500,000	0
Master Lease
Summary Of Significant Accounting Policies [Line Items]
Initial lease term ( In years )	10 years		10 years
Lease extension term	5 years		5 years
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
MGP Operating Partnership
Summary Of Significant Accounting Policies [Line Items]
Operating lease right-of-use assets	$ 280,020,000		280,020,000			0
Operating lease liabilities	336,452,000		336,452,000			$ 0
MGP Operating Partnership | Variable Interest Entity
Summary Of Significant Accounting Policies [Line Items]
Maximum exposure to loss, assets	11,800,000,000		11,800,000,000
Maximum exposure to loss, liabilities	$ 462,500,000		$ 462,500,000

Acquisitions and dispositions_2

Acquisitions and dispositions - Narrative (Details) - USD ($) $ in Thousands	Apr. 01, 2019	Jan. 29, 2019	Jul. 06, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Reduction to additional paid in capital		$ 9,400
Amounts drawn on debt instruments during period				$ 750,000	$ 0
Empire City
Business Acquisition [Line Items]
Liabilities incurred		$ 246,000
Partnership Interest ( in units )		12,900,000
Carryover value		$ 625,000
Purchase price		$ 634,400
Northfield
Business Acquisition [Line Items]
Carryover value	$ 292,300
Membership interest acquired ( as a percent )			100.00%
Purchase price	$ 305,200		$ 1,100,000

Acquisitions and dispositions_3

Acquisitions and dispositions - Assets held-for-sale (Details) - Held-for-sale - Northfield OpCo $ in Thousands	Dec. 31, 2018USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property and equipment, used in operations, net	$ 20,391
Cash and cash equivalents	55,822
Tenant and other receivables, net	7,322
Prepaid expenses and other assets	3,024
Goodwill	17,915
Other intangible assets, net	251,214
Assets held for sale	355,688
Due to MGM Resorts International and affiliates	80
Accounts payable, accrued expenses and other liabilities	28,806
Deferred revenue	51
Liabilities related to assets held for sale	$ 28,937

Acquisitions and dispositions_4

Acquisitions and dispositions - Results of discontinued operations (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Combinations [Abstract]
Total revenues	$ 65,562	$ 67,841	$ 65,562
Total expenses	(48,997)	(48,735)	(48,997)
Income from discontinued operations before income taxes	16,565	19,106	16,565
Provision for income taxes	(2,616)	(2,890)	(2,616)
Income from discontinued operations, net of tax	13,949	16,216	13,949
Less: Income attributable to noncontrolling interests - discontinued operations	(10,231)	(11,434)	(10,231)
Income from discontinued operations attributable to Class A shareholders	$ 3,718	$ 4,782	$ 3,718

Real Estate Investments - Narra

Real Estate Investments - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Real Estate Properties [Line Items]
Real estate investments, gross	$ 13,912,939	$ 13,318,334
Less: Accumulated depreciation	(3,018,818)	(2,812,205)
Real estate investments, net	10,894,121	10,506,129
Land
Real Estate Properties [Line Items]
Real estate investments, gross	4,631,013	4,536,013
Buildings, building improvements, land improvements and integral equipment
Real Estate Properties [Line Items]
Real estate investments, gross	$ 9,281,926	$ 8,782,321

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	Apr. 01, 2019USD ($)	Mar. 07, 2019USD ($)	Jan. 29, 2019USD ($)	Jul. 06, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)extension	Sep. 30, 2018USD ($)	Apr. 02, 2019USD ($)	Mar. 30, 2019USD ($)	Jan. 09, 2019USD ($)
Leases [Line Items]
Number of lease extension options | extension							4
Rent payments due under master lease									$ 946,100	$ 770,300
Lessor, operating lease, payments to be received in year three					$ 976,262		$ 976,262
Lessor, operating lease, payments to be received in year four					912,751		912,751
Revenues					226,011	$ 216,659	655,193	$ 652,888
Operating lease cost					5,900		17,900
Rental Properties
Leases [Line Items]
Revenues					219,847	186,564	636,575	559,690
Tenant Reimbursements
Leases [Line Items]
Operating Leases, Income Statement, Lease Revenue					6,200	30,100	18,600	93,200
Revenues					$ 6,164	30,095	$ 18,618	93,198
Master Lease
Leases [Line Items]
Initial lease term ( In years )					10 years		10 years
Lease extension term					5 years		5 years
Operating Leases, Income Statement, Lease Revenue					$ 219,800	$ 186,600	$ 636,600	$ 559,700
Master Lease Base Rent
Leases [Line Items]
Annual contractual rent growth rate ( as a percent )	2.00%	2.00%	2.00%
Rent payments fixed rate (as a percent)	90.00%	90.00%	90.00%
Empire City
Leases [Line Items]
Business Acquisition, Transaction Costs			$ 634,400
Rent payments due under master lease											$ 50,000
Park MGM Lease Transaction
Leases [Line Items]
Business Acquisition, Transaction Costs		$ 637,500
Business Combination, Consideration Transferred, Other		605,600
Rent payments due under master lease		50,000
Park MGM Lease Transaction | Tenant Reimbursements
Leases [Line Items]
Operating Leases, Income Statement, Lease Revenue		94,000
Northfield
Leases [Line Items]
Business Acquisition, Transaction Costs	$ 305,200			$ 1,100,000
Rent payments due under master lease	60,000
Northfield OpCo
Leases [Line Items]
Rent payments due under master lease	60,000
Operating Partnership Units [Member]
Leases [Line Items]
Operating partnership units					$ 2,800		$ 4,900
Operating Partnership Units [Member] | Park MGM Lease Transaction
Leases [Line Items]
Operating partnership units		$ 1,000
Operating Partnership Units [Member] | Northfield
Leases [Line Items]
Operating partnership units	$ 9,400

Leases - Operating Lease Minimu

Leases - Operating Lease Minimum Rental Payments (Details) $ in Thousands	Sep. 30, 2019USD ($)
Leases [Abstract]
2019	$ 236,515
2020	958,894
2021	976,262
2022	912,751
2023	890,126
Thereafter	1,922,713
Total	$ 5,897,261

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease right-of-use assets	$ 280,020
Operating lease liabilities	$ 336,452	$ 333,500	$ 0
Weighted-average remaining lease term (years)	59 years
Weighted-average discount rate (%)	7.00%

Leases - Operating Lease Maturi

Leases - Operating Lease Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
2019 (excluding the nine months ended September 30, 2019)	$ 4,541
2020	21,113
2021	24,996
2022	25,015
2023	24,875
Thereafter	1,357,650
Total future minimum lease payments	1,458,190
Less: Amount of lease payments representing interest	(1,121,738)
Operating lease liabilities	$ 336,452	$ 333,500	$ 0

- Debt (Details)

- Debt (Details) - USD ($)	Sep. 30, 2019	Jan. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt	$ 4,902,313,000		$ 4,719,125,000
Less: Unamortized discount and debt issuance costs	(54,905,000)		(52,176,000)
Long-term debt, net	4,847,408,000		4,666,949,000
Senior secured term loan A facility | Term Loan
Debt Instrument [Line Items]
Principal amount	467,000,000
Senior secured term loan	$ 467,063,000		470,000,000
Interest rate	4.04%
Senior secured term loan B facility | Term Loan
Debt Instrument [Line Items]
Principal amount	$ 1,800,000,000
Senior secured term loan	1,785,250,000		1,799,125,000
Senior secured revolving credit facility | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility	0		550,000,000
5.625% Senior Notes Due 2024 [Member] | Senior Notes
Debt Instrument [Line Items]
Principal amount	1,050,000,000
Senior notes	$ 1,050,000,000		1,050,000,000
Interest rate	5.625%
4.50% senior notes, due 2026 | Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 500,000,000
Senior notes	$ 500,000,000		500,000,000
Interest rate	4.50%
5.75% senior notes due 2027 | Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 750,000,000
Senior notes	$ 750,000,000		0
Interest rate	5.75%
4.50% senior notes, due 2028 | Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 350,000,000
Senior notes	$ 350,000,000		$ 350,000,000
Interest rate	4.50%
Operating Partnership Senior Notes | 5.75% senior notes due 2027
Debt Instrument [Line Items]
Senior notes		$ 750,000,000
Interest rate		5.75%

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Jan. 29, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jan. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Estimated fair value of long-term debt		$ 5,100,000,000		$ 5,100,000,000			$ 4,500,000,000
Amortization of deferred financing costs		3,200,000	$ 3,300,000	9,600,000	$ 9,400,000
Term Loan | Senior Secured Term Loan A Facility
Debt Instrument [Line Items]
Principal amount under term loan facility		$ 467,000,000		467,000,000
Repayments of long-term debt				$ 2,900,000
Interest rate		4.04%		4.04%
Term Loan | Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Principal amount under term loan facility		$ 1,800,000,000		$ 1,800,000,000
Revolving Credit Facility | Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity under credit facility		1,400,000,000		1,400,000,000
Amounts drawn on credit facility		$ 0		$ 0			$ 550,000,000
Empire City
Debt Instrument [Line Items]
Liabilities incurred	$ 246,000,000
Operating Partnership Senior Notes | 5.75% senior notes due 2027
Debt Instrument [Line Items]
Interest rate						5.75%
Senior notes						$ 750,000,000

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Fair value of derivative instruments	$ (54,570,000)
Interest Rate Swaps
Derivative [Line Items]
Weighted average fixed rate ( as a percent )	1.707%
Fair value of derivative instruments	$ 1,500,000,000
Interest Rate Swaps | Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability	(54,600,000)	$ 5,600,000
Fair value of derivative instruments	$ 3,400,000	$ 20,500,000
September 6, 2019
Derivative [Line Items]
Weighted average fixed rate ( as a percent )	1.158%
Notional Amount	$ 300,000,000
Fair value of derivative instruments	$ 3,393,000
May 3, 2017
Derivative [Line Items]
Weighted average fixed rate ( as a percent )	1.844%
Notional Amount	$ 1,200,000,000
Fair value of derivative instruments	$ (9,926,000)
October 1, 2019
Derivative [Line Items]
Weighted average fixed rate ( as a percent )	2.252%
Notional Amount	$ 400,000,000
Fair value of derivative instruments	$ (31,370,000)
November 30, 2021
Derivative [Line Items]
Weighted average fixed rate ( as a percent )	1.801%
Notional Amount	$ 900,000,000
Fair value of derivative instruments	$ (13,274,000)

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Schedule of Interest Rate Derivatives (Details) $ in Thousands	Sep. 30, 2019USD ($)
Derivative [Line Items]
Fair value of derivative instruments	$ (54,570)

Shareholders' Equity and Part_3

Shareholders' Equity and Partners' Capital - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions

Oct. 15, 2019

Apr. 01, 2019

Mar. 07, 2019

Jan. 31, 2019

Sep. 30, 2019

Sep. 30, 2019

Apr. 30, 2019

Apr. 02, 2019

Mar. 06, 2019

Jan. 30, 2019

Jan. 29, 2019

Jan. 28, 2019

Class A Shares

Class of Stock [Line Items]

Sale of Stock, Number of Shares Issued in Transaction ( in shares )

2,800,000

Sale of Stock, Consideration Received on Transaction

$ 86.1

Common Stock

$ 300

Public Stock Offering | Class A Shares

Class of Stock [Line Items]

Sale of Stock, Number of Shares Issued in Transaction ( in shares )

19,600,000

Sale of Stock, Consideration Received on Transaction

$ 548.4

$ 151

Ownership percentage

30.30%

25.40%

Over-Allotment Option | Class A Shares

Class of Stock [Line Items]

Sale of Stock, Number of Shares Issued in Transaction ( in shares )

2,600,000

4,900,000

Empire City

Class of Stock [Line Items]

Partnership Interest ( in units )

12,900,000

Ownership percentage

25.40%

26.70%

Park MGM Lease Transaction

Class of Stock [Line Items]

Ownership percentage

30.20%

30.30%

Northfield

Class of Stock [Line Items]

Ownership percentage

30.20%

32.30%

32.30%

31.20%

Subsequent Event | Class A Shares

Class of Stock [Line Items]

Dividends

$ 0.4700

Dividends

$ 0.4700

Operating Partnership Units

Class of Stock [Line Items]

Operating partnership units

$ 2.8

$ 4.9

Operating Partnership Units | Park MGM Lease Transaction

Class of Stock [Line Items]

Operating partnership units

$ 1

Operating Partnership Units | Northfield

Class of Stock [Line Items]

Operating partnership units

$ 9.4

Shareholders' Equity and Part_4

Shareholders' Equity and Partners' Capital - Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
AOCI [Roll Forward]
Balance	$ 6,386,532	$ 6,716,917	$ 5,845,506
Balance	6,384,304	6,386,532	6,716,917
AOCI Attributable to Parent
AOCI [Roll Forward]
Balance	(9,696)	54	4,208
Balance	(16,129)	(9,696)	54
MGP Operating Partnership
AOCI [Roll Forward]
Issuance of Operating Partnership units			548,391
MGP Operating Partnership | Limited Partners
AOCI [Roll Forward]
Issuance of Operating Partnership units			548,391
Empire City | MGP Operating Partnership
AOCI [Roll Forward]
Acquisitions			379,050
Empire City | MGP Operating Partnership | Limited Partners
AOCI [Roll Forward]
Acquisitions			379,050
Park MGM Lease Transaction | MGP Operating Partnership
AOCI [Roll Forward]
Acquisitions			31,875
Park MGM Lease Transaction | MGP Operating Partnership | Limited Partners
AOCI [Roll Forward]
Acquisitions			31,875
Other Comprehensive Income (Loss)
AOCI [Roll Forward]
Balance	(9,696)	54	4,208
Other comprehensive loss before reclassifications	(17,989)	(29,008)	(13,765)
Amounts reclassified from accumulated other comprehensive income to interest expense	(1,281)	(1,767)	(1,847)
Less: Other comprehensive income	(19,470)	(30,878)	(15,049)
Balance	(16,129)	(9,696)	54
Other Comprehensive Income (Loss) | AOCI Attributable to Parent
AOCI [Roll Forward]
Balance	(10,156)	(509)	4,208
Balance	(16,389)	(10,156)	(509)
Other Comprehensive Income (Loss) | Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest
AOCI [Roll Forward]
Other comprehensive loss before reclassifications	(17,989)	(29,008)	(13,765)
Amounts reclassified from accumulated other comprehensive income to interest expense	(1,281)	(1,767)	(1,847)
Less: Other comprehensive income	(19,270)	(30,775)	(15,612)
Other Comprehensive Income (Loss) | AOCI Attributable to Noncontrolling Interest
AOCI [Roll Forward]
Less: Other comprehensive income	13,037	21,128	10,895
Other Comprehensive Income (Loss) | Limited Partners
AOCI [Roll Forward]
Balance	460	563
Less: Other comprehensive income	(200)	(103)	563
Balance	260	460	563
Other Comprehensive Income (Loss) | MGP Operating Partnership
AOCI [Roll Forward]
Issuance of Operating Partnership units	(200)	(105)	774
Other Comprehensive Income (Loss) | MGP Operating Partnership | Limited Partners
AOCI [Roll Forward]
Issuance of Operating Partnership units	$ (200)	(105)	774
Other Comprehensive Income (Loss) | Empire City | MGP Operating Partnership
AOCI [Roll Forward]
Acquisitions			(195)
Other Comprehensive Income (Loss) | Empire City | MGP Operating Partnership | Limited Partners
AOCI [Roll Forward]
Acquisitions			(195)
Other Comprehensive Income (Loss) | Park MGM Lease Transaction | MGP Operating Partnership
AOCI [Roll Forward]
Acquisitions			(16)
Other Comprehensive Income (Loss) | Park MGM Lease Transaction | MGP Operating Partnership | Limited Partners
AOCI [Roll Forward]
Acquisitions			$ (16)
Other Comprehensive Income (Loss) | Northfield OpCo | MGP Operating Partnership
AOCI [Roll Forward]
Acquisitions		2
Other Comprehensive Income (Loss) | Northfield OpCo | MGP Operating Partnership | Limited Partners
AOCI [Roll Forward]
Acquisitions		$ 2

Net Income Per Class A Share _2

Net Income Per Class A Share - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Income from continuing operations	$ 68,553	$ 55,974	$ 186,470	$ 162,202
Income from continuing operations attributable to noncontrolling interest	(46,038)	(40,208)	(126,924)	(117,460)
Income from continuing operations attributable to Class A shares - basic and diluted	22,515	15,766	59,546	44,742
Income from discontinued operations	0	13,949	16,216	13,949
Income from discontinued operations attributable to noncontrolling interest	0	(10,231)	(11,434)	(10,231)
Income from discontinued operations attributable to Class A shares - basic and diluted	0	3,718	4,782	3,718
Net income attributable to Class A shares - basic and diluted	$ 22,515	$ 19,484	$ 64,328	$ 48,460
Denominator:
Basic weighted average Class A shares outstanding (in shares)	93,165,443	71,005,052	89,440,552	70,991,129
Effect of dilutive shares for diluted net income per Class A share (in shares)	157,497	196,739	204,557	183,141
Weighted average shares for diluted net income per Class A share (in shares)	93,322,940	71,201,791	89,645,109	71,174,270

Net Income Per Operating Part_3

Net Income Per Operating Partnership Unit - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Net income	$ 68,553			$ 55,974			$ 186,470	$ 162,202
Income from discontinued operations	0			13,949			16,216	13,949
Net income - basic and diluted	$ 68,553	$ 67,769	$ 66,364	$ 69,923	$ 48,059	$ 58,169	$ 202,686	$ 176,151
Denominator:
Effect of dilutive shares for diluted net income per Operating Partnership unit (in shares)	157,497			196,739			204,557	183,141
MGP Operating Partnership
Numerator:
Net income	$ 68,553			$ 55,974			$ 186,470	$ 162,202
Income from discontinued operations	0			13,949			16,216	13,949
Net income - basic and diluted	$ 68,553	$ 67,769	$ 66,364	$ 69,923	$ 48,059	$ 58,169	$ 202,686	$ 176,151
Denominator:
Weighted average Operating Partnership units outstanding - basic (in shares)	292,867,986			266,139,175			290,661,305	266,125,252
Effect of dilutive shares for diluted net income per Operating Partnership unit (in shares)	157,497			196,739			204,557	183,141
Weighted average Operating Partnership units outstanding - diluted (in shares)	293,025,483			266,335,914			290,865,862	266,308,393

Condensed Consolidating Finan_3

Condensed Consolidating Financial Information - Consolidating Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Condensed Balance Sheet Statements, Captions [Line Items]
Real estate investments, net	$ 10,894,121				$ 10,506,129
Tenant and other receivables, net	463				7,668
Prepaid expenses and other assets	27,413				34,813
Above market lease, asset	41,834				43,014
Lease incentive asset	532,186				0
Operating lease right-of-use assets	280,020			$ 279,900	0
Total assets	11,929,563				10,951,307
Debt, net	4,847,408				4,666,949
Due to MGM Resorts International and affiliates	298				227
Accounts payable, accrued expenses and other liabilities	59,937				20,796
Above market lease, liability	0				46,181
Accrued interest	37,407				26,096
Dividend and distribution payable	138,730				119,055
Deferred revenue	95,306				163,926
Deferred income taxes, net	29,721				33,634
Operating lease liabilities	336,452			$ 333,500	0
Total liabilities	5,545,259				5,105,801
Total liabilities and shareholders’ equity	11,929,563				10,951,307
MGP Operating Partnership
Condensed Balance Sheet Statements, Captions [Line Items]
Real estate investments, net	10,894,121				10,506,129
Cash and cash equivalents	153,526				3,995	$ 8,051			$ 259,722
Tenant and other receivables, net	463				7,668
Intercompany	0				0
Prepaid expenses and other assets	27,413				34,813
Investments in subsidiaries	0				0
Above market lease, asset	41,834				43,014
Assets held for sale	0				355,688
Lease incentive asset	532,186				0
Operating lease right-of-use assets	280,020				0
Total assets	11,929,563				10,951,307
Debt, net	4,847,408				4,666,949
Due to MGM Resorts International and affiliates	298				227
Intercompany	0				0
Accounts payable, accrued expenses and other liabilities	59,937				20,796
Above market lease, liability	0				46,181
Accrued interest	37,407				26,096
Dividend and distribution payable	138,730				119,055
Deferred revenue	95,306				163,926
Deferred income taxes, net	29,721				33,634
Liabilities related to assets held for sale					28,937
Operating lease liabilities	336,452				0
Total liabilities	5,545,259				5,105,801
General partner	0				0
Limited partners	6,384,304				5,845,506
Total partners' capital	6,384,304	$ 6,386,532	$ 6,716,917		5,845,506	5,915,203	$ 5,974,303	$ 6,032,546	6,067,739
Total liabilities and shareholders’ equity	11,929,563				10,951,307
MGP Operating Partnership | Eliminations
Condensed Balance Sheet Statements, Captions [Line Items]
Real estate investments, net	0				0
Cash and cash equivalents	0				0	0			0
Tenant and other receivables, net	0				0
Intercompany	(1,169,999)				(841,179)
Prepaid expenses and other assets	0				0
Investments in subsidiaries	(10,126,379)				(9,790,350)
Above market lease, asset	0				0
Assets held for sale					0
Lease incentive asset	0
Operating lease right-of-use assets	0
Total assets	(11,296,378)				(10,631,529)
Debt, net	0				0
Due to MGM Resorts International and affiliates	0				0
Intercompany	(1,169,999)				(841,179)
Accounts payable, accrued expenses and other liabilities	0				0
Above market lease, liability					0
Accrued interest	0				0
Dividend and distribution payable	0				0
Deferred revenue	0				0
Deferred income taxes, net	0				0
Liabilities related to assets held for sale					0
Operating lease liabilities	0
Total liabilities	(1,169,999)				(841,179)
General partner	0				0
Limited partners	(10,126,379)				(9,790,350)
Total partners' capital	(10,126,379)				(9,790,350)
Total liabilities and shareholders’ equity	(11,296,378)				(10,631,529)
MGP Operating Partnership | Operating Partnership | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Real estate investments, net	507				572
Cash and cash equivalents	153,526				3,995	8,051			259,722
Tenant and other receivables, net	463				26
Intercompany	1,169,999				841,179
Prepaid expenses and other assets	15,730				34,813
Investments in subsidiaries	10,126,379				9,790,350
Above market lease, asset	0				0
Assets held for sale					0
Lease incentive asset	0
Operating lease right-of-use assets	477
Total assets	11,467,081				10,670,935
Debt, net	4,847,408				4,666,949
Due to MGM Resorts International and affiliates	298				227
Intercompany	0				0
Accounts payable, accrued expenses and other liabilities	58,457				13,102
Above market lease, liability					0
Accrued interest	37,407				26,096
Dividend and distribution payable	138,730				119,055
Deferred revenue	0				0
Deferred income taxes, net	0				0
Liabilities related to assets held for sale					0
Operating lease liabilities	477
Total liabilities	5,082,777				4,825,429
General partner	0				0
Limited partners	6,384,304				5,845,506
Total partners' capital	6,384,304				5,845,506
Total liabilities and shareholders’ equity	11,467,081				10,670,935
MGP Operating Partnership | Co-Issuer | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Real estate investments, net	0				0
Cash and cash equivalents	0				0	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
Assets held for sale					0
Lease incentive asset	0
Operating lease right-of-use assets	0
Total assets	0				0
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
Accrued interest	0				0
Dividend and distribution payable	0				0
Deferred revenue	0				0
Deferred income taxes, net	0				0
Liabilities related to assets held for sale					0
Operating lease liabilities	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
MGP Operating Partnership | Guarantor Subsidiaries | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Real estate investments, net	10,893,614				10,505,557
Cash and cash equivalents	0				0	$ 0			$ 0
Tenant and other receivables, net	0				7,642
Intercompany	0				0
Prepaid expenses and other assets	11,683				0
Investments in subsidiaries	0				0
Above market lease, asset	41,834				43,014
Assets held for sale					355,688
Lease incentive asset	532,186
Operating lease right-of-use assets	279,543
Total assets	11,758,860				10,911,901
Debt, net	0				0
Due to MGM Resorts International and affiliates	0				0
Intercompany	1,169,999				841,179
Accounts payable, accrued expenses and other liabilities	1,480				7,694
Above market lease, liability					46,181
Accrued interest	0				0
Dividend and distribution payable	0				0
Deferred revenue	95,306				163,926
Deferred income taxes, net	29,721				33,634
Liabilities related to assets held for sale					28,937
Operating lease liabilities	335,975
Total liabilities	1,632,481				1,121,551
General partner	0				0
Limited partners	10,126,379				9,790,350
Total partners' capital	10,126,379				9,790,350
Total liabilities and shareholders’ equity	$ 11,758,860				$ 10,911,901

Condensed Consolidating Finan_4

Condensed Consolidating Financial Information - Consolidating Statement of Operations and Comprehensive Income Information (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Condensed Income Statements, Captions [Line Items]
Revenues	$ 226,011			$ 216,659			$ 655,193	$ 652,888
Expenses
Depreciation	71,957			63,468			223,062	199,933
Property transactions, net	9,921			339			11,344	18,851
Ground lease and other reimbursable expenses	5,920			29,168			17,760	90,435
Amortization of above market lease, net	0			171			0	514
Acquisition-related expenses	92			1,931			8,891	4,603
General and administrative	4,476			3,358			12,305	10,021
Expenses, net	92,366			98,435			273,362	324,357
Other income (expense)
Interest income	241			163			2,189	2,473
Interest expense	(63,048)			(58,743)			(190,973)	(157,249)
Other	(306)			(1,020)			(806)	(6,409)
Non-operating income (expense)	(63,113)			(59,600)			(189,590)	(161,185)
Income from continuing operations before income taxes	70,532			58,624			192,241	167,346
Less: Net income attributable to noncontrolling interest	(46,038)			(40,208)			(126,924)	(117,460)
Provision for income taxes	(1,979)			(2,650)			(5,771)	(5,144)
Income from discontinued operations attributable to noncontrolling interest	0			10,231			11,434	10,231
Net income	68,553	$ 67,769	$ 66,364	69,923	$ 48,059	$ 58,169	202,686	176,151
Other comprehensive income (loss)
Unrealized gain (loss) on cash flow hedges	(19,270)			4,736			(65,657)	27,372
Comprehensive income	49,283			74,659			137,029	203,523
Rental revenue
Condensed Income Statements, Captions [Line Items]
Revenues	219,847			186,564			636,575	559,690
Tenant reimbursements and other
Condensed Income Statements, Captions [Line Items]
Revenues	6,164			30,095			18,618	93,198
MGP Operating Partnership
Condensed Income Statements, Captions [Line Items]
Revenues	226,011			216,659			655,193	652,888
Expenses
Depreciation	71,957			63,468			223,062	199,933
Property transactions, net	9,921			339			11,344	18,851
Ground lease and other reimbursable expenses	5,920			29,168			17,760	90,435
Amortization of above market lease, net	0			171			0	514
Acquisition-related expenses	92			1,931			8,891	4,603
General and administrative	4,476			3,358			12,305	10,021
Expenses, net	92,366			98,435			273,362	324,357
Equity in earnings of subsidiaries	0			0			0	0
Other income (expense)
Interest income	241			163			2,189	2,473
Interest expense	(63,048)			(58,743)			(190,973)	(157,249)
Other	(306)			(1,020)			(806)	(6,409)
Non-operating income (expense)	(63,113)			(59,600)			(189,590)	(161,185)
Income from continuing operations before income taxes	70,532			58,624			192,241	167,346
Provision for income taxes	(1,979)			(2,650)			(5,771)	(5,144)
Income from discontinued operations attributable to noncontrolling interest				13,949				(13,949)
Net income	68,553	$ 67,769	$ 66,364	69,923	$ 48,059	$ 58,169	202,686	176,151
Other comprehensive income (loss)
Unrealized gain (loss) on cash flow hedges	(19,270)			4,736			(65,657)	27,372
Comprehensive income	49,283			74,659			137,029	203,523
MGP Operating Partnership | Rental revenue
Condensed Income Statements, Captions [Line Items]
Revenues	219,847			186,564			636,575	559,690
Other income (expense)
Less: Net income attributable to noncontrolling interest	(68,553)			(55,974)			(186,470)	(162,202)
Income from discontinued operations attributable to noncontrolling interest							16,216
MGP Operating Partnership | Tenant reimbursements and other
Condensed Income Statements, Captions [Line Items]
Revenues	6,164			30,095			18,618	93,198
MGP Operating Partnership | Eliminations
Condensed Income Statements, Captions [Line Items]
Revenues	0			0			0	0
Expenses
Depreciation	0			0			0	0
Property transactions, net	0			0			0	0
Ground lease and other reimbursable expenses	0			0			0	0
Amortization of above market lease, net				0				0
Acquisition-related expenses	0			0			0	0
General and administrative	0			0			0	0
Expenses, net	0			0			0	0
Equity in earnings of subsidiaries	(136,256)			(129,568)			(409,665)	(346,758)
Other income (expense)
Interest income	0			(5,289)			(5,617)	(5,289)
Interest expense	0			5,289			5,617	5,289
Other	0			0			0	0
Non-operating income (expense)	0			0			0	0
Income from continuing operations before income taxes	(136,256)			(129,568)			(409,665)	(346,758)
Provision for income taxes	0			0			0	0
Income from discontinued operations attributable to noncontrolling interest				0				0
Net income	(136,256)			(129,568)			(409,665)	(346,758)
Other comprehensive income (loss)
Unrealized gain (loss) on cash flow hedges	0			0			0	0
Comprehensive income	(136,256)			(129,568)			(409,665)	(346,758)
MGP Operating Partnership | Eliminations | Rental revenue
Condensed Income Statements, Captions [Line Items]
Revenues	0			0			0	0
Other income (expense)
Less: Net income attributable to noncontrolling interest	136,256			129,568			409,665	346,758
Income from discontinued operations attributable to noncontrolling interest							0
MGP Operating Partnership | Eliminations | Tenant reimbursements and other
Condensed Income Statements, Captions [Line Items]
Revenues	0			0			0	0
MGP Operating Partnership | Operating Partnership | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	0			0			0	0
Expenses
Depreciation	22			45			65	87
Property transactions, net	0			0			0	0
Ground lease and other reimbursable expenses	0			0			0	0
Amortization of above market lease, net				0				0
Acquisition-related expenses	92			1,931			8,891	4,603
General and administrative	4,476			3,358			12,305	10,021
Expenses, net	4,590			5,334			21,261	14,711
Equity in earnings of subsidiaries	136,256			129,568			409,665	346,758
Other income (expense)
Interest income	241			5,452			7,806	7,762
Interest expense	(63,048)			(58,743)			(190,973)	(157,249)
Other	(306)			(1,020)			(806)	(6,409)
Non-operating income (expense)	(63,113)			(54,311)			(183,973)	(155,896)
Income from continuing operations before income taxes	68,553			69,923			204,431	176,151
Provision for income taxes	0			0			(1,745)	0
Income from discontinued operations attributable to noncontrolling interest				0				0
Net income	68,553			69,923			202,686	176,151
Other comprehensive income (loss)
Unrealized gain (loss) on cash flow hedges	(19,270)			4,736			(65,657)	27,372
Comprehensive income	49,283			74,659			137,029	203,523
MGP Operating Partnership | Operating Partnership | Reportable Legal Entities | Rental revenue
Condensed Income Statements, Captions [Line Items]
Revenues	0			0			0	0
Other income (expense)
Less: Net income attributable to noncontrolling interest	(68,553)			(69,923)			(202,686)	(176,151)
Income from discontinued operations attributable to noncontrolling interest							0
MGP Operating Partnership | Operating Partnership | Reportable Legal Entities | Tenant reimbursements and other
Condensed Income Statements, Captions [Line Items]
Revenues	0			0			0	0
MGP Operating Partnership | Co-Issuer | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	0			0			0	0
Expenses
Depreciation	0			0			0	0
Property transactions, net	0			0			0	0
Ground lease and other reimbursable expenses	0			0			0	0
Amortization of above market lease, net				0				0
Acquisition-related expenses	0			0			0	0
General and administrative	0			0			0	0
Expenses, net	0			0			0	0
Equity in earnings of subsidiaries	0			0			0	0
Other income (expense)
Interest income	0			0			0	0
Interest expense	0			0			0	0
Other	0			0			0	0
Non-operating income (expense)	0			0			0	0
Income from continuing operations before income taxes	0			0			0	0
Provision for income taxes	0			0			0	0
Income from discontinued operations attributable to noncontrolling interest				0				0
Net income	0			0			0	0
Other comprehensive income (loss)
Unrealized gain (loss) on cash flow hedges	0			0			0	0
Comprehensive income	0			0			0	0
MGP Operating Partnership | Co-Issuer | Reportable Legal Entities | Rental revenue
Condensed Income Statements, Captions [Line Items]
Revenues	0			0			0	0
Other income (expense)
Less: Net income attributable to noncontrolling interest	0			0			0	0
Income from discontinued operations attributable to noncontrolling interest							0
MGP Operating Partnership | Co-Issuer | Reportable Legal Entities | Tenant reimbursements and other
Condensed Income Statements, Captions [Line Items]
Revenues	0			0			0	0
MGP Operating Partnership | Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Revenues	226,011			216,659			655,193	652,888
Expenses
Depreciation	71,935			63,423			222,997	199,846
Property transactions, net	9,921			339			11,344	18,851
Ground lease and other reimbursable expenses	5,920			29,168			17,760	90,435
Amortization of above market lease, net				171				514
Acquisition-related expenses	0			0			0	0
General and administrative	0			0			0	0
Expenses, net	87,776			93,101			252,101	309,646
Equity in earnings of subsidiaries	0			0			0	0
Other income (expense)
Interest income	0			0			0	0
Interest expense	0			(5,289)			(5,617)	(5,289)
Other	0			0			0	0
Non-operating income (expense)	0			(5,289)			(5,617)	(5,289)
Income from continuing operations before income taxes	138,235			118,269			397,475	337,953
Provision for income taxes	(1,979)			(2,650)			(4,026)	(5,144)
Income from discontinued operations attributable to noncontrolling interest				13,949				(13,949)
Net income	136,256			129,568			409,665	346,758
Other comprehensive income (loss)
Unrealized gain (loss) on cash flow hedges	0			0			0	0
Comprehensive income	136,256			129,568			409,665	346,758
MGP Operating Partnership | Guarantor Subsidiaries | Reportable Legal Entities | Rental revenue
Condensed Income Statements, Captions [Line Items]
Revenues	219,847			186,564			636,575	559,690
Other income (expense)
Less: Net income attributable to noncontrolling interest	(136,256)			(115,619)			(393,449)	(332,809)
Income from discontinued operations attributable to noncontrolling interest							16,216
MGP Operating Partnership | Guarantor Subsidiaries | Reportable Legal Entities | Tenant reimbursements and other
Condensed Income Statements, Captions [Line Items]
Revenues	$ 6,164			$ 30,095			$ 18,618	$ 93,198

Condensed Consolidating Finan_5

Condensed Consolidating Financial Information - Consolidating Statement of Cash Flows Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Proceeds from Northfield OpCo Transaction		$ 3,779	$ 0
Capital expenditures for property and equipment		0	(191)
Acquisition of Northfield	$ 298,957	0	(1,068,337)
Cash flows from investing activities
Park MGM Transaction		(605,625)	0
Cash flows from financing activities
Net borrowings (repayments) under bank credit facility		(566,813)	747,375
Proceeds from issuance of debt		750,000	0
Deferred financing costs		(9,983)	(17,490)
Repayment of assumed bridge facility		(245,950)	0
Proceeds from issuance of Class A shares, net		699,362	0
Dividends and distributions paid		(395,005)	(337,865)
Other		(1,342)	0
Cash flows provided by operating activities, net		15,591	8,250
Cash flows provided by (used in) investing activities, net		(12)	33,199
Cash flows used in financing activities, net		(37,900)	0
Net cash provided by (used in) discontinued operations		(22,321)	41,449
Change in cash and cash equivalents classified as assets held for sale		(22,321)	41,449
MGP Operating Partnership
Cash flows from operating activities
Net cash provided by (used in) operating activities		(84,517)	424,837
Proceeds from Northfield OpCo Transaction		3,779	0
Capital expenditures for property and equipment		0	(191)
Acquisition of Northfield		0	(1,068,337)
Cash flows from investing activities
Net Cash Provided by (Used in) Investing Activities		3,779	(1,068,528)
Cash flows from financing activities
Net borrowings (repayments) under bank credit facility		(566,813)	747,375
Proceeds from issuance of debt		750,000	0
Deferred financing costs		(9,983)	(17,490)
Repayment of assumed bridge facility		(245,950)	0
Proceeds from issuance of Class A shares, net		699,362	0
Dividends and distributions paid		(395,005)	(337,865)
Cash received by Parent on behalf of Guarantor Subsidiaries		0	0
Other		(1,342)	0
Net cash provided by (used in) financing activities - continuing operations		230,269	392,020
Cash flows provided by operating activities, net		15,591	8,250
Cash flows provided by (used in) investing activities, net		(12)	33,199
Cash flows used in financing activities, net		(37,900)	0
Net cash provided by (used in) discontinued operations		(22,321)	41,449
Change in cash and cash equivalents classified as assets held for sale		(22,321)	41,449
Cash and cash equivalents
Net increase for the period		149,531	(251,671)
Balance, beginning of period		3,995	259,722
Balance, end of period		153,526	8,051
MGP Operating Partnership | Eliminations
Cash flows from operating activities
Net cash provided by (used in) operating activities		0	0
Proceeds from Northfield OpCo Transaction		0
Capital expenditures for property and equipment			0
Cash flows from investing activities
Net Cash Provided by (Used in) Investing Activities		0	0
Cash flows from financing activities
Net borrowings (repayments) under bank credit facility		0	0
Proceeds from issuance of debt		0
Deferred financing costs		0	0
Repayment of assumed bridge facility		0
Proceeds from issuance of Class A shares, net		0
Dividends and distributions paid		0	0
Cash received by Parent on behalf of Guarantor Subsidiaries		0	0
Other		0
Net cash provided by (used in) financing activities - continuing operations		0	0
Cash flows provided by operating activities, net		0	0
Cash flows provided by (used in) investing activities, net		0	0
Cash flows used in financing activities, net		0	0
Net cash provided by (used in) discontinued operations		0	0
Change in cash and cash equivalents classified as assets held for sale		0	0
Cash and cash equivalents
Net increase for the period		0	0
Balance, beginning of period		0	0
Balance, end of period		0	0
MGP Operating Partnership | Operating Partnership | Reportable Legal Entities
Cash flows from operating activities
Net cash provided by (used in) operating activities		(762,230)	(149,511)
Proceeds from Northfield OpCo Transaction		3,779
Capital expenditures for property and equipment			(191)
Acquisition of Northfield			(1,068,337)
Cash flows from investing activities
Net Cash Provided by (Used in) Investing Activities		3,779	(1,068,528)
Cash flows from financing activities
Net borrowings (repayments) under bank credit facility		(566,813)	747,375
Proceeds from issuance of debt		750,000
Deferred financing costs		(9,983)	(17,490)
Repayment of assumed bridge facility		(245,950)
Proceeds from issuance of Class A shares, net		699,362
Dividends and distributions paid		(395,005)	(337,865)
Cash received by Parent on behalf of Guarantor Subsidiaries		677,713	574,348
Other		(1,342)
Net cash provided by (used in) financing activities - continuing operations		907,982	966,368
Cash flows provided by operating activities, net		0	0
Cash flows provided by (used in) investing activities, net		0	0
Cash flows used in financing activities, net		0	0
Net cash provided by (used in) discontinued operations		0	0
Change in cash and cash equivalents classified as assets held for sale		0	0
Cash and cash equivalents
Net increase for the period		149,531	(251,671)
Balance, beginning of period		3,995	259,722
Balance, end of period		153,526	8,051
MGP Operating Partnership | Co-Issuer | Reportable Legal Entities
Cash flows from operating activities
Net cash provided by (used in) operating activities		0	0
Proceeds from Northfield OpCo Transaction		0
Capital expenditures for property and equipment			0
Acquisition of Northfield			0
Cash flows from investing activities
Net Cash Provided by (Used in) Investing Activities		0	0
Cash flows from financing activities
Net borrowings (repayments) under bank credit facility		0	0
Proceeds from issuance of debt		0
Deferred financing costs		0	0
Repayment of assumed bridge facility		0
Proceeds from issuance of Class A shares, net		0
Dividends and distributions paid		0	0
Cash received by Parent on behalf of Guarantor Subsidiaries		0	0
Other		0
Net cash provided by (used in) financing activities - continuing operations		0	0
Cash flows provided by operating activities, net		0	0
Cash flows provided by (used in) investing activities, net		0	0
Cash flows used in financing activities, net		0	0
Net cash provided by (used in) discontinued operations		0	0
Change in cash and cash equivalents classified as assets held for sale		0	0
Cash and cash equivalents
Net increase for the period		0	0
Balance, beginning of period		0	0
Balance, end of period		0	0
MGP Operating Partnership | Guarantor Subsidiaries | Reportable Legal Entities
Cash flows from operating activities
Net cash provided by (used in) operating activities		677,713	574,348
Proceeds from Northfield OpCo Transaction		0
Capital expenditures for property and equipment			0
Acquisition of Northfield			0
Cash flows from investing activities
Net Cash Provided by (Used in) Investing Activities		0	0
Cash flows from financing activities
Net borrowings (repayments) under bank credit facility		0	0
Proceeds from issuance of debt		0
Deferred financing costs		0	0
Repayment of assumed bridge facility		0
Proceeds from issuance of Class A shares, net		0
Dividends and distributions paid		0	0
Cash received by Parent on behalf of Guarantor Subsidiaries		(677,713)	(574,348)
Other		0
Net cash provided by (used in) financing activities - continuing operations		(677,713)	(574,348)
Cash flows provided by operating activities, net		15,591	8,250
Cash flows provided by (used in) investing activities, net		(12)	33,199
Cash flows used in financing activities, net		(37,900)	0
Net cash provided by (used in) discontinued operations		(22,321)	41,449
Change in cash and cash equivalents classified as assets held for sale		(22,321)	41,449
Cash and cash equivalents
Net increase for the period		0	0
Balance, beginning of period		0	0
Balance, end of period		$ 0	$ 0