MGM’s real estate investment trust eyeing Sands’ Vegas casino dirt

Casino operator MGM Resorts plans to appeal a fine for allegedly failing to observe pandemic precautions at one of its Vegas casinos, while MGM’s real estate partner is eyeing up the land under Las Vegas Sands’ Venetian resort.

MGM learned Monday that it had been fined $12,617 by the Occupational Safety and Health Administration (OSHA) for a “lack of social distancing at point-of-sale terminals used by employees” at the company’s Aria property in Las Vegas. OSHA launched its investigation following an Aria staffer’s complaint regarding claims of workplace safety hazards.  

MGM issued a statement saying it “plans to contest the citation and penalty because it does not believe it has violated any safety laws.” MGM insisted that it had “no higher priority” than protecting its staff and guests and cited its Seven-Point Safety Plan’s “clear policies for maintaining safe distances and other important protocols.”

Meanwhile, the MGM Growth Properties (MGP) real estate investment trust that owns much of the land underneath MGM’s casinos – and collects millions of dollars in rent from MGM each month – suggested this week that it might be interested in striking a similar deal with MGM rival Las Vegas Sands.