Monday, April 20, 2015 | 9:06 a.m.
NEW YORK — MGM Resorts International said Monday that the investment bank Evercore will join its team of advisors as it looks at strategic options.
The casino resort operator's shares rose 2.5 percent in morning trading.
The Las Vegas-based company said its options include becoming a real estate investment trust, a move supported by Land and Buildings, another investment firm. Land and Buildings wants MGM to become a REIT, a company that owns and operates income-producing real estate, and spin off its hotels into a lodging corporation. It says that would increase shareholder value.
MGM said earlier this month that it has been studying that option. It has also said Land and Buildings' proposal is flawed.
The two sides are involved in a proxy fight. Land and Buildings has nominated a slate of four directors for spots on MGM's board of directors. MGM Resorts is scheduled to hold its annual shareholder meeting on May 28.
Shares of MGM Resorts rose 56 cents, or 2.6 percent, to $21.99 in morning trading Monday. Evercore Partners Inc. gained 85 cents, or 1.7 percent, to $49.78.
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