MGM Growth Properties (MGP) has reported profit of $10.59 million, or $0.18 a share for the quarter ended Sep. 30, 2016.      

Revenues for the quarter were $172.50 million. The company has not recorded any revenues for the previous year period.

Gross margin for the quarter stood at 100 percent.

Total expenses were $85.71 million for the quarter, up 24.62 percent or $16.93 million from year-ago period. Operating margin for the quarter was at 50.31 percent.

Operating income for the quarter was $86.79 million, compared with an operating loss of $68.78 million in the previous year period.      

Revenue from real estate activities during the quarter was at $172.50 million.

Income from operating leases during the quarter was at $154.81 million. Revenue from tenant reimbursements during the quarter was at $17.69 million.

"As reflected by the Borgata acquisition, the Company is executing on its strategy of sustainably growing the Company and dividend,” said James Stewart, chief executive officer of MGM Growth Properties. "The Borgata acquisition was accretive to our AFFO, diversified our portfolio with a premiere integrated resort in the eastern U.S., and was executed in a manner that enabled us to maintain our strong balance sheet."

Total assets stood at $9,525.56million as on Sep. 30, 2016. On the other hand, total liabilities were at $3,877.06 million as on Sep. 30, 2016.

Return on assets was at 0.90 percent in the quarter. At the same time, return on equity was at 0.19 percent in the quarter.

Total debt was at $3,620.68 million as on Sep. 30, 2016. Shareholders equity was at $5,648.50 million as on Sep. 30, 2016. Meanwhile, debt to equity ratio was at 0.64 percent in the quarter.