September 26, 2016 7:41 PM 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

Phone:

702-590-7111

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 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.

CityCenter Holdings, LLC Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2015

CityCenter Holdings, LLC announced unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net revenues are $318,239,000 against $336,417,000 a year ago. Operating income was $182 million, including the gain from the Harmon settlement, for the first quarter of 2015 compared to operating income of $5 million in the prior year quarter. Adjusted EBITDA was $85,140,000 against $95,058,000 a year ago. Net income was $163,601,000 against net loss of $20,202,000 a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 18, 2016
The Shops at Crystals in Las Vegas
 

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