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INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES | 9 Months Ended
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Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract] |
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES | INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES Investments in and advances to unconsolidated affiliates consisted of the following:
| September 30, 2022 |  | December 31, 2021
| (In thousands)
VICI BREIT Venture (50.1% owned by MGP OP through April 28, 2022) | $ | — |  |  | $ | 816,756 |
BetMGM (50%) | 54,002 |  |  | 41,060 |
Other | 131,756 |  |  | 109,228 |
| $ | 185,758 |  |  | $ | 967,044 |
The Company recorded its share of income (loss) from unconsolidated affiliates, including adjustments for basis differences, as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (In thousands)
Income (loss) from unconsolidated affiliates | $ | (17,467) |  |  | $ | 35,111 |  |  | $ | (119,888) |  |  | $ | 92,870 |
Non-operating items from unconsolidated affiliates | (995) |  |  | (23,421) |  |  | (22,248) |  |  | (67,473) |
| $ | (18,462) |  |  | $ | 11,690 |  |  | $ | (142,136) |  |  | $ | 25,397 |
The following table summarizes information related to the Company’s share of operating income (loss) from unconsolidated affiliates:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (In thousands)
CityCenter | $ | — |  |  | $ | 40,747 |  |  | $ | — |  |  | $ | 128,127 |
VICI BREIT Venture | — |  |  | 38,959 |  |  | 51,051 |  |  | 116,876 |
BetMGM | (23,582) |  |  | (49,060) |  |  | (186,804) |  |  | (154,275) |
Other | 6,115 |  |  | 4,465 |  |  | 15,865 |  |  | 2,142 |
| $ | (17,467) |  |  | $ | 35,111 |  |  | $ | (119,888) |  |  | $ | 92,870 |
Refer to Note 3 for discussion of the acquisition and consolidation of CityCenter in September 2021 and for discussion of the derecognition of the assets and liabilities of MGP, which included MGP OP’s investment in VICI BREIT Venture, in April 2022. VICI BREIT Venture distributions. For the nine months ended September 30, 2022, MGP OP received $32 million in distributions. For the three and nine months ended September 30, 2021, MGP OP received $24 million and $70 million in distributions, respectively. BetMGM contributions. For the three and nine months ended September 30, 2022, the Company contributed $50 million and $200 million to BetMGM, respectively. For the three and nine months ended September 30, 2021, the Company contributed $50 million and $150 million to BetMGM, respectively. CityCenter sale of Harmon land. In June 2021, CityCenter closed the sale of its Harmon land for $80 million on which it recorded a $30 million gain. The Company recorded a $50 million gain, which included $15 million of its 50% share of the gain recorded by CityCenter and $35 million representing the reversal of certain basis differences.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI https://asc.fasb.org/topic&trid=2196965 + Details
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