MGM Resorts considers REIT conversion

MGM Resorts International has added Evercore Group as an independent advisor to assist its board of directors in evaluating strategic initiatives for the company, including a potential REIT conversion.

The REIT would be required to distribute at least 90% of its taxable income to shareholders each year in the form of dividends. It would also be allowed to deduct dividends paid to shareholders from its taxable income, which provides tax savings to investors.