LAS VEGAS, April 20, 2015 /PRNewswire/ -- MGM Resorts
International (NYSE: MGM) today announced that it has published an
investor presentation in connection with its 2015 annual meeting of
shareholders, to be held on May 28,
2015. The presentation is available on the Company's website
www.mgmresorts.com under the Investors section and is being filed
today with the Securities and Exchange Commission (the "SEC").
The Company also announced that Evercore Group L.L.C. has been
added as an independent advisor to its team of existing advisors to
assist MGM and its Board of Directors in its continuous process of
actively evaluating all strategic initiatives for the Company,
including a potential REIT conversion.
In its investor presentation, MGM outlines the Company's strong
track record and details the reasons why it believes Land &
Buildings' proxy fight is unwarranted, ill-conceived and not in the
best interests of shareholders. The presentation focuses on
the following:
- MGM has delivered above industry average returns and is well
positioned for continued growth
- MGM has a history of value-generating strategic initiatives and
delivering on commitments to drive strong performance
- The MGM Board has the right balance of independence, experience
and necessary skills to oversee ongoing execution of the Company's
strategy and continue to drive sustainable value
- The Directors targeted by Land & Buildings all bring vital
and unique skills that greatly contribute to the oversight of our
complex and diverse global operations
- The proposed Board changes reflect a lack of understanding of
the importance of diversity that has strengthened the Company and
added value for shareholders
- Land & Buildings' nominees are tied to a proposal that has
a narrow, short-term focus and makes numerous financial, structural
and tax assumptions that appear unsupported or are factually
incorrect, which calls into question their credibility
- As a part of its regular and ongoing Board strategic review
process, MGM has and will continue to actively evaluate strategic
options for the Company that drive sustainable value for
shareholders
MGM recommends that shareholders vote FOR the election of MGM's
highly qualified nominees on the WHITE proxy card.
About MGM Resorts International
MGM Resorts
International (NYSE: MGM) is one of the world's leading global
hospitality companies, operating a portfolio of destination resort
brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage.
The Company is in the process of developing MGM National Harbor in
Maryland and MGM Springfield in
Massachusetts. The Company also owns 51 percent of MGM China
Holdings Limited, which owns the MGM Macau resort and casino and is
developing a gaming resort in Cotai, and 50 percent of CityCenter
in Las Vegas, which features ARIA
Resort & Casino. For more information about MGM Resorts
International, visit the Company's website at
www.mgmresorts.com.
Forward-Looking Statements
Statements in this release
that are not historical facts are forward-looking statements,
within the meaning of the Private Securities Litigation Reform Act
of 1995 and involve risks and/or uncertainties, including those
described in the Company's public filings with the Securities and
Exchange Commission. MGM has based forward-looking statements on
management's current expectations and assumptions and not on
historical facts. Examples of these statements include, but are not
limited to, statements regarding strategic transactions MGM may
pursue in the future. These forward-looking statements involve a
number of risks and uncertainties. Among the important factors that
could cause actual results to differ materially from those
indicated in such forward-looking statements include effects of
economic conditions and market conditions in the markets in which
MGM operates and competition with other destination travel
locations throughout the United
States and the world, the design, timing and costs of
expansion projects, risks relating to international operations,
permits, licenses, financings, approvals and other contingencies in
connection with growth in new or existing jurisdictions and
additional risks and uncertainties described in MGM's Form 10-K,
Form 10-Q and Form 8-K reports (including all amendments to those
reports). In providing forward-looking statements, MGM is not
undertaking any duty or obligation to update these statements
publicly as a result of new information, future events or
otherwise, except as required by law. If MGM updates one or more
forward-looking statements, no inference should be drawn that it
will make additional updates with respect to those other
forward-looking statements.
Important Additional Information
MGM has filed a proxy
statement on Schedule 14A and other relevant documents with the
Securities and Exchange Commission ("SEC") in connection with the
solicitation of proxies for its 2015 Annual Meeting of Stockholders
or any adjournment or postponement thereof (the "2015 Annual
Meeting") and has mailed the definitive proxy statement and a WHITE
proxy card to each stockholder of record entitled to vote at the
2015 Annual Meeting. STOCKHOLDERS ARE STRONGLY ADVISED TO READ
MGM's 2015 PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS
THERETO) AND ANY OTHER DOCUMENTS FILED WITH THE SEC WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Stockholders may obtain a free copy of the 2015 proxy statement,
any amendments or supplements to the proxy statement and other
documents that MGM files with the SEC from the SEC's website at
www.sec.gov or MGM's website at http://mgmresorts.investorroom.com/
as soon as reasonably practicable after such materials are
electronically filed with, or furnished to, the SEC.
Participants in Solicitation
MGM, its directors, its
executive officers and its nominees for election as director may be
deemed participants in the solicitation of proxies from
stockholders in connection with the matters to be considered at the
2015 Annual Meeting. Information regarding the persons who may,
under the rules of the SEC, be considered participants in the
solicitation of MGM's stockholders in connection with the 2015
Annual Meeting, and their direct or indirect interests, by security
holdings or otherwise, which may be different from those of MGM's
stockholders generally, are set forth in MGM's definitive proxy
statement for the 2015 Annual Meeting on Schedule 14A that has been
filed with the SEC and the other relevant documents filed with the
SEC.
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SOURCE MGM Resorts International