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MGM Organizes REIT Board

MGM Organizes REIT Board

MGM Resorts International announced Chairman and CEO James Murren, President Bill Hornbuckle, General Counsel John McManus, and Chief Analytics Officer Elisa Gois are new board members of its MGM Growth Properties REIT.

The REIT will sell shares in 10 MGM properties, while MGM will maintain a 70 percent ownership of the REIT and continue to manage all properties.

Also named to the MGM Growth Properties board are independent directors Michael Rietbrock, formerly the leader of Nomura Securities; Thomas Roberts, formerly senior partner at Weil, Gotshal & Manges; and Dan Taylor, who is an executive for MGM’s largest shareholder, the Tracinda Corporation.

MGM awaits regulatory approval of its REIT offering, which it hopes to initiate this spring.

Properties contained within the MGM Growth Properties REIT are Mandalay Bay, The Mirage, Monte Carlo, New York-New York, Luxor, Excalibur, and The Park in Las Vegas; MGM Grand Detroit; and the Beau Rivage Biloxi and Gold Strike Tunica casinos in Mississippi.

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