MGM Resorts defends itself in investor presentation

• MGM Resorts (NYSE:MGM) releases an investor presentation in front of its annual meeting scheduled for May 28.
• The bulk of the material from the company defends the directors being targeted for replacement by Land & Buildings.
• MGM also claims L&B makes "unsubstantiated" cash flow assumptions in deriving its rosy REIT projections.
• MGM development schedule update: MGM Cotai (opening Fall 2016), MGM National Harbor (opening 2H 2016), MGM Springfield (opening 2H 2017), also pursuing opportunities in South Korea and Japan.
• MGM Investor Presentation (.pdf)