LAS VEGAS (AP) - MGM Resorts International has announced the seven members who will make up the board of the company’s planned real estate investment trust.
Vegas Inc. reports (https://bit.ly/20FWX1L ) MGM Resorts says the board will include five directors with ties to the company and two independent directors. The trust will own 10 properties, including seven on the Las Vegas Strip.
MGM Resorts is expected to own about 70 percent of the trust, which will be a publicly traded company.
The board members include CEO Jim Murren, President Bill Hornbuckle, General Counsel John McManus, Chief Analytics Officer Elisa Gois and Tracinda Corp. executive Dan Taylor. The independent directors are Thomas Roberts and Michael Rietbrock.
MGM Resorts has said the trust will improve its finances and value for shareholders, while allowing the company more flexibility.
Information from: Las Vegas Sun, https://www.lasvegassun.com
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