MGM Resorts price target raised to $29 from $24 at Argus Argus increased its price target on MGM after a report showed that Macau gaming revenue jumped almost 19% in December. The firm expects room prices for the company's Las Vegas Strip hotels to rise 10% year-over-year in Q1 and it keeps a Buy rating on the stock.
MGM Resorts and Infinity World announce approval of $400M special dividend MGM Resorts and Infinity World Development announced a special dividend and the adoption of an annual distribution policy by CityCenter Holdings. CityCenter approved a $400M special dividend, which will be paid on or about April 30, 2015. The owners will each receive $200M, representing their pro rata share. In addition, CityCenter has approved the adoption of a regular dividend policy pursuant to which it will make annual distributions of up to 35% of excess cash flow subject to approval by the CityCenter board.