VICI is a New York City based real estate investment trust fund. They will emerge as Las Vegas' largest property owner after the $17.2 billion transaction between MGM and VICI closes. MGM has sold The Mirage, New York-New York, MGM Grand Las Vegas, Mandalay Bay, Excalibur, Luxor, Park MGM and The Park Las Vegas promenade, which includes land under T-Mobile Arena to VICI. Earlier this year, VICI and the Apollo Group partnered to acquire the Las Vegas Sands which owned the Venetian and the Palazzo. VICI also owns the Caesars Palace and Harrah's in Las Vegas.