February 20, 2017 11:46 AM ET

Real Estate Management and Development

Company Overview of CityCenter Holdings, LLC

Company Overview

CityCenter Holdings, LLC owns, develops, and operates CityCenter, a mixed-use development property in Las Vegas, Nevada. Its CityCenter property consists of a 4,004-room casino resort; a 392-room non-gaming boutique hotel; an approximately 329,000 leasable-square-foot retail district that include shops, dining, and entertainment venues; a 1,495 room luxury condominium-hotel; and residential units. The company was founded in 2007 and is based in Las Vegas, Nevada.CityCenter Holdings, LLC is joint venture of Project CC, LLC and Infinity World Development Corporation.

4882 Frank Sinatra Drive

Las Vegas, NV 89158

United States

Founded in 2007



Key Executives for CityCenter Holdings, LLC

Principal Executive Officer, President and Director
Age: 66
Principal Financial Officer and Principal Accounting Officer
Age: 55
Compensation as of Fiscal Year 2016.

CityCenter Holdings, LLC Key Developments

Citycenter Holdings, LLC Completes Amendment of its Senior Credit Facility

CityCenter Holdings, LLC announced that it successfully completed an amendment to re-price its $1.2 billion term loan B senior credit facility and re-price and extend its $75 million revolving facility, which currently remains undrawn. The term loan B facility was re-priced at par and will now bear interest at LIBOR plus 2.75%, with a LIBOR floor of 0.75%, which represents a 50 basis point reduction compared to the prior rate and a 25 basis point reduction compared to the prior LIBOR floor. The revolving facility was re-priced at LIBOR plus 2.00%, which represents a 175 basis point reduction compared to the prior rate. The revolving facility was also extended to July 2020. All other principal provisions of the existing credit facility remain unchanged.

CityCenter Holdings, LLC Announces Common and Special Dividend

The board of directors of CityCenter Holdings, LLC approved a $1.08 billion dividend consisting of a $990 million special dividend in connection with the sale and a $90 million dividend as part of its annual dividend policy. The $1.08 billion dividend will be paid in the second quarter.

CityCenter Holdings, LLC Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended Sept. 30, 2015

CityCenter Holdings, LLC announced unaudited earnings results for the third quarter and nine months ended Sept. 30, 2015. For the quarter, the company reported adjusted EBITDA was $75,324,000 compared to $57,590,000 a year ago. Operating income was $12,444,000 compared to loss of $36,192,000 in the prior year quarter, benefiting from an increase in casino revenue and rooms revenue. Net loss was $5,918,000 compared to $59,101,000 a year ago. Net revenue was $294,267,000 compared to $297,402,000 a year ago. For the nine months, the company reported adjusted EBITDA was $246,173,000 compared to $230,357,000 a year ago. Operating income was $216,263,000 compared to loss of $56,064,000 in the prior year period. Net income was $161,837,000 compared to net loss of $131,091,000 a year ago. Net revenue was $934,488,000 compared to $953,694,000 a year ago.

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