Mgm Growth Properties Operating Partnership Lp 10-Q Quarterly Report April 2022

– MGM Growth Properties LLC (“MGP” or the “Company”) (NYSE: MGP) today reported financial results for the quarter ended March 31, 2022. Net income attributable to MGP Class A shareholders for the quarter was $69.4 million, or $0.44 per dilutive share.

Financial highlights for the first quarter of 2022:

•Consolidated rental revenue of $195.1 million;

•Consolidated net income of $116.5 million, or $0.43 per diluted Operating Partnership unit;

•Consolidated Funds From Operations(1) (“FFO”) of $191.4 million, or $0.71 per diluted Operating Partnership unit;

•Consolidated Adjusted Funds From Operations(2) (“AFFO”) of $184.6 million, or $0.69 per diluted Operating Partnership unit;

•Consolidated Adjusted EBITDA(3) (“Adjusted EBITDA”) of $253.6 million;

•General and administrative expenses of $3.6 million; and

•Income from unconsolidated affiliate of $25.4 million.

As of March 31, 2022, there were approximately 268.1 million Operating Partnership units outstanding in the Operating Partnership of which MGM owned approximately 111.4 million, or 41.5%, while MGP owns the remaining 58.5%.

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The following information was filed by Mgm Growth Properties Operating Partnership Lp on Thursday, April 21, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Mgm Growth Properties Operating Partnership Lp provided additional information to their SEC Filing as exhibits

Exhibit 22.1: Published Report Regarding Matters Submitted To Vote Of Security Holders

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.3: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.4: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 32.3: Section 1350 Certification

Exhibit 32.4: Section 1350 Certification

CIK: 1691299
Form Type: 10-Q Quarterly Report
Accession Number: 0001656936-22-000012
Submitted to the SEC: Thu Apr 21 2022 9:03:08 AM EST
Accepted by the SEC: Thu Apr 21 2022
Period: Thursday, March 31, 2022
Industry: Real Estate Investment Trusts

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Mgm Growth Properties Operating Partnership Lp (1691299) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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