Investments in and advances to unconsolidated affiliates consisted of the following:

	December 31,
	2020		2019
	(In thousands)
CityCenter Holdings, LLC – CityCenter (50%)	$	441,893	$	568,879
MGP BREIT Venture (50.1% owned by the Operating Partnership)		810,066		—
Other		195,084		253,487
	$	1,447,043	$	822,366

The Company recorded its share of income (loss) from unconsolidated affiliates, including adjustments for basis differences, as follows:

	Year Ended December 31,
	2020			2019			2018
	(In thousands)
Income from unconsolidated affiliates	$	42,938		$	119,521		$	147,690
Preopening and start-up expenses		—			—			(3,321	)
Non-operating items from unconsolidated affiliates		(103,304	)		(62,296	)		(47,827	)
	$	(60,366	)	$	57,225		$	96,542

The following table summarizes further information related to the Company’s share of operating income (loss) from unconsolidated affiliates:

	Year Ended December 31,
	2020			2019			2018
	(In thousands)
CityCenter	$	(29,753	)	$	128,421		$	138,383
MGP BREIT Venture		136,755			—			—
Other		(64,064	)		(8,900	)		9,307
	$	42,938		$	119,521		$	147,690

MGP BREIT Venture distributions. For year ended December 31, 2020, the Operating Partnership received $81 million in distributions from MGP BREIT Venture.

Other. During the year ended December 31, 2020, the Company recognized other-than-temporary impairment charges of $64 million within “Property transactions, net” in the consolidated statements of operations related to an investment in an unconsolidated affiliate classified within “Other” in the “Investments in and advances to unconsolidated affiliates” table above.

Mandarin Oriental sale. On August 30, 2018, CityCenter closed the sale of the Mandarin Oriental and adjacent retail parcels for approximately $214 million. During the year ended December 31, 2018, CityCenter recognized a loss on the sale of the Mandarin Oriental of $133 million and the Company recognized a $12 million gain on the sale related to the reversal of basis differences in excess of its share of the loss recorded by CityCenter, which is recorded within “Income from unconsolidated affiliates” in the consolidated statements of operations.

CityCenter distributions. During the year ended December 31, 2020, CityCenter paid $101 million in distributions, of which the Company received its 50% share, or approximately $51 million. During the year ended December 31, 2019, CityCenter paid $180 million in distributions, of which the Company received its 50% share, or approximately $90 million. During the year ended December 31, 2018, CityCenter paid $625 million in distributions, of which the Company received its 50% share, or approximately $313 million.

Grand Victoria sale. On August 7, 2018, the Company, along with its joint venture partner, completed the sale of Grand Victoria, of which a subsidiary of the Company owned a 50% interest, for $328 million in cash. The Company recorded a gain of $45 million related to the sale, which is recorded within “Property transactions, net” in the consolidated statements of operations.

Unconsolidated Affiliate Financial Information – CityCenter & MGP BREIT Venture

	December 31,
	2020		2019
	(In thousands)
Cash and cash equivalents	$	96,758	$	246,269
Property and equipment, net		10,237,004		5,937,382
Other assets, net		256,813		204,326
Debt, net		4,715,997		1,734,770
Other liabilities		270,583		343,456

	Year Ended December 31,
	2020			2019		2018
	(In thousands)
Net revenues	$	869,638		$	1,294,861	$	1,277,745
Income (loss) from continuing operations		(43,749	)		69,143		97,091
Net income (loss)		(43,749	)		69,143		(37,911	)

The Company’s investments in unconsolidated affiliates do not equal the Company’s share of venture-level equity due to various basis differences. Basis differences related to depreciable assets are being amortized based on the useful lives of the related assets and liabilities, and basis differences related to non–depreciable assets, such as land and indefinite-lived intangible assets, are not being amortized. Differences between the Company’s share of venture-level equity and investment balances are as follows:

	December 31,
	2020			2019
	(In thousands)
Venture-level equity attributable to the Company	$	2,981,550		$	2,399,993
Adjustment to CityCenter equity upon contribution of net assets by MGM Resorts International (1)		(504,171	)		(509,382	)
CityCenter capitalized interest (2)		168,966			177,898
CityCenter completion guarantee (3)		248,730			261,708
CityCenter deferred gain (4)		(208,204	)		(210,240	)
CityCenter capitalized interest on sponsor notes (5)		(33,010	)		(34,755	)
Other-than-temporary impairments of CityCenter investment (6)		(1,256,516	)		(1,304,317	)
Other adjustments		49,698			41,461
	$	1,447,043		$	822,366