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Realty Income is investing $950 million (22%) in the iconic Bellagio on the Las Vegas Strip, demonstrating that attractions in Las Vegas remain as alluring as ever. Realty Income acquired its interest from Blackstone Realty Income Trust (BREIT), and the price implies that Bellagio’s property assets are now worth 20% more than when BREIT purchased 95% of it for $4.25 billion four years ago. According to a statement released by Realty Income, they will invest approximately $300 million of common equity into a joint venture with BREIT retaining 73.1%, while also investing an additional $650 million for a yield-bearing preferred equity interest in said venture upon closing. As one of America’s premier REITS specializing solely in monthly dividend payments, this move marks another milestone for Realty Income who have set their sights on acquiring interests within properties such as Bellagio – boasting 4,000 guestrooms and suites along with 157k square feet of gaming space and 200k gross square feet dedicated to meetings and events facilities respectively