Howard Hughes Holdings spinning off Seaport Entertainment to shareholders

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Howard Hughes Holdings spinning off Seaport Entertainment to shareholders
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Seaport Entertainment is a newly-formed unit that owns the Seaport in NYC and air rights for a potential new casino on the Las Vegas strip

Howard Hughes Holdings Inc. on Thursday launched a new division of the company called Seaport Entertainment to hold assets in New York City and Las Vegas, with plans to spin off the unit to shareholders by the end of 2024.

Nikodemus most recently served as president and chief operating officer of CityCenter for MGM Resorts International, where he oversaw operations for The Cosmopolitan of Las Vegas, Vdara Hotel & Spa, and ARIA Resort & Casino. Howard Hughes Holdings stock is down 7.7% in 2023, compared to an 11.1% rise by the S&P 500 SPX and a 26.5% gain by the Nasdaq COMP.

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