MGM seeking to boost value from real estate

MGM Resorts International said its board has created a committee to study ways to extract more value out of its real estate portfolio.

The committee will be composed of three independent directors, each with real estate and financial markets experience, John B. Kilroy Jr., Keith A. Meister and Paul Salem. They will work with management to assist in the evaluation.

The committee’s focus will be to enhance free cash flow per share, maximize the value of the owned real estate and MGM’s equity holdings, preserve the company’s financial stability and position the company for continued growth.

“MGM prides itself on our capacity to nimbly respond to market opportunities,” said Chairman and CEO Jim Murren. “The formation of this committee is an extension of this focus by both the Board and management, as we continually explore how best to take advantage of the enormous value we have developed to-date and seek opportunities on behalf of our shareholders.”