GARY FRITZ APPOINTED PRESIDENT OF MGM RESORTS INTERNATIONAL INTERACTIVE

Rhea-AI Summary

MGM Resorts International announced the appointment of Gary Fritz as President of MGM Resorts Interactive on October 10, 2022. Fritz is tasked with enhancing the company's digital gaming initiatives, focusing on organic growth and acquisitions, particularly through BetMGM. He previously led MGM's successful acquisition of LeoVegas and has extensive experience in global strategy from roles at IAC, TripAdvisor, and Expedia. CEO Bill Hornbuckle emphasized that Fritz's leadership will accelerate MGM's digital expansion strategy in the gaming sector.

Positive

• Gary Fritz appointed as President, bringing extensive experience.
• Focus on enhancing growth in digital gaming through acquisition and innovation.
• Successful acquisition of LeoVegas boosts MGM's global gaming presence.

Negative

• None.

Fritz will oversee company's growth in global digital gaming

LAS VEGAS, Oct. 10, 2022 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) announced today the appointment of Gary Fritz to President of MGM Resorts Interactive. Fritz will oversee and advance MGM Resorts' diversification strategy by expanding the Company's digital platforms organically and through acquisitions. This includes driving growth and innovation through the company's industry-leading sports betting and iGaming platform, BetMGM.

"Enhancing and growing our digital businesses is one of MGM Resorts' top priorities, and Gary is uniquely positioned to help the Company build on successes and seize new opportunities," said Bill Hornbuckle, CEO & President of MGM Resorts International. "Gary will play a vital role in MGM Resorts' diversification strategy and drive our investment in digital innovations."

Serving previously as Head of Gaming for IAC, Fritz recently led MGM Resorts' successful acquisition of LeoVegas, a leading online global gaming company with access to several jurisdictions globally. In his new role, Fritz will be responsible for the company's growth strategies in digital gaming, including both organic growth and potential M&A activities. Fritz will be a member of the Company's Executive Committee and he will become a member of the Board of Directors for BetMGM and Chairman of the Board of LeoVegas.

"I'm excited to join MGM Resorts and contribute to the company's success as it looks to accelerate its growth in digital gaming," Fritz said. "MGM is the global leader in premium gaming and entertainment, and I look forward to continuing to drive our strategy around global expansion and digital innovation."

Previously, Fritz led global strategy and expansion plans for multinational companies, including IAC, TripAdvisor and Expedia. He began his career at McKinsey & Company. Fritz holds an M.B.A. from the Massachusetts Institute of Technology (MIT) and a bachelor's degree from the University of Pennsylvania.

About MGM Resorts International

MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 33 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. The Company's 50/50 venture, BetMGM, LLC, offers U.S. sports betting and online gaming through market-leading brands, including BetMGM and partypoker, and the Company's subsidiary, LeoVegas AB, offers sports betting and online gaming through market-leading brands in several jurisdictions throughout Europe. The Company is currently pursuing targeted expansion in Asia through the integrated resort opportunity in Japan. Through its "Focused on What Matters: Embracing Humanity and Protecting the Planet" philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests, and in the communities where it operates. The global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®. For more information, please visit us at www.mgmresorts.com. Please also connect with us @MGMResortsIntl on Twitter as well as Facebook and Instagram.

Forward-Looking Statements

Statements in this release that are not historical facts are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and involve risks and/or uncertainties, including those described in MGM Resorts' public filings with the Securities and Exchange Commission. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends," "plans," "pro forma," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. MGM Resorts has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, MGM Resorts' expectations regarding MGM's diversification and digital expansion strategy. These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include risks related to the timing and costs of such diversification and expansion projects, the continued impact of the COVID-19 pandemic on MGM Resorts' business, the effects of economic conditions and market conditions in the markets in which MGM Resorts operates and competition with other destination travel locations throughout the United States and the world, and additional risks and uncertainties described in MGM Resorts' Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, MGM Resorts is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If MGM Resorts updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

MGM RESORTS CONTACT:

News Media
KRYSTAL WEBB
Media Relations Manager
media@mgmresorts.com

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SOURCE MGM Resorts International

FAQ

Who is Gary Fritz in relation to MGM Resorts?

Gary Fritz is appointed as President of MGM Resorts Interactive, overseeing digital gaming growth strategies.

What is the significance of the LeoVegas acquisition for MGM Resorts?

The acquisition of LeoVegas enhances MGM's global gaming platform and expands its market reach.

When was Gary Fritz appointed as President of MGM Resorts Interactive?

Gary Fritz was appointed on October 10, 2022.

What are MGM Resorts' plans for digital gaming expansion?

MGM Resorts aims to enhance its digital gaming initiatives through organic growth and acquisitions under Gary Fritz's leadership.