Tracinda Expresses Support For MGM Management And Board

BEVERLY HILLS, Calif., May 1, 2015 /PRNewswire/ -- Tracinda Corporation, a private investment firm that beneficially owns approximately 18.6 percent of MGM Resorts International's (NYSE: MGM) outstanding shares as of the record date for the 2015 Annual Meeting and has two representatives, Anthony Mandekic and Daniel J. Taylor, on the Company's Board of Directors, today issued the following statement regarding the proxy fight launched by Land & Buildings Investment Management against MGM:

"We are very confident that the current Board and management team are committed to – and more than capable of -- evaluating all avenues to deliver sustainable value, including determining whether some form of a REIT conversion would make sense.

"As the largest shareholder of MGM Resorts with two board seats, including the role of Chairman of the Compensation Committee, we can validate that the existing board and management team is held to the highest standards with regard to value creation for shareholders and compensation practices.  Based on the Board's commitment, as well as the strong performance of the business since the financial crisis we intend to vote our shares for the current Board's nominees."

About Tracinda Corporation Tracinda Corporation, a Nevada corporation, is a privately owned investment company principally engaged in the business of buying, selling and holding selected equity securities.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tracinda-expresses-support-for-mgm-management-and-board-300075880.html

SOURCE Tracinda Corporation