MGM Resorts price target raised to $33 from $29 at Argus Argus raised its price target on MGM after the company reported higher than expected Q4 operating profits. The firm expects the company to benefit from continued strong revenue at MGM China in Q1, as well as 10% year-over-year increases in room prices at the company's Las Vegas Strip properties. The firm 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.