MGM Resorts International Names William J. Hornbuckle Chief Executive Officer
MGM Resorts International has appointed William (Bill) J. Hornbuckle as Chief Executive Officer and President, effective immediately. Hornbuckle, who has served as Acting CEO since March 2020, succeeds Jim Murren. The Board of Directors unanimously selected him to lead the company through challenging times. Hornbuckle expressed his honor in taking on this role, emphasizing a focus on long-term recovery and employee welfare. His extensive experience in the gaming industry positions him well for the leadership role as MGM looks toward future growth.
- Hornbuckle's extensive experience in the gaming industry strengthens leadership.
- Unanimous board decision signaling confidence in Hornbuckle's capabilities.
- Focus on long-term recovery and employee welfare enhances company reputation.
- Continued challenges due to the impact of the COVID-19 pandemic may hinder recovery efforts.
LAS VEGAS, July 29, 2020 /PRNewswire/ -- The MGM Resorts International (NYSE: MGM) Board of Directors today announced that William (Bill) J. Hornbuckle has been elected as Chief Executive Officer and President, effective immediately. Hornbuckle has been serving the company as Acting CEO and President since March 2020. He succeeds former Chairman and CEO Jim Murren, who stepped down earlier this year. Hornbuckle was also appointed to serve on the company's Board of Directors, effective immediately.
"After a thorough national search, the board unanimously concluded that Bill is the best candidate to lead MGM Resorts through these immensely challenging times and into a more promising future," said Paul Salem, Chairman of the Board of Directors. "There are few tests of leadership greater than what Bill has faced. His seasoned global experience, depth of knowledge and steady hand have provided reassurance and confidence to our employees, partners, guests and shareholders during one of the most difficult periods in the history of our company. He has fully earned the opportunity before him."
"I am honored to lead this company as we look toward long-term recovery, future growth and opportunity. In doing so, I am especially mindful of the thousands of MGM Resorts employees who have been profoundly impacted by the current circumstances. Their dedication to the company's mission and safety allows guests from around the world to experience moments of happiness and hospitality amid uncertain times. I am here today presented with this leadership role due to the tremendous accomplishments, passion and courage of our people," said Hornbuckle. "While we will continue to operate in this new normal for the near term, fundamentally I am incredibly optimistic about the future of our company and our industry. We will remain focused on taking care of our guests and each other as we look toward our best days ahead."
Bill Hornbuckle Biography
A highly respected veteran of the gaming industry, Bill Hornbuckle served as Acting CEO, President and Chief Operating Officer of MGM Resorts International and is currently Executive Director and Board Chairman of MGM China Holdings with operations and resorts in Macau. In addition, he is the Chairman of the Board of Directors of the CityCenter JV Board of Directors (a joint venture with Dubai World) and is a member of the Las Vegas Stadium Authority Board of Directors.
He was previously Chief Marketing Officer of MGM Resorts International from 2009 until 2012. From 2005 until August 2009, Mr. Hornbuckle served as President and Chief Operating Officer of Mandalay Bay Resort & Casino. He previously had served as President and Chief Operating Officer of MGM Resorts International-Europe, where he worked on the development of the Company's gaming operations in the United Kingdom. He also served as President and Chief Operating Officer of MGM Grand Las Vegas from 1998 to 2001.
Prior to MGM Grand Las Vegas, Mr. Hornbuckle served as President and Chief Operating Officer for Caesars Palace, Las Vegas. He spent the majority of his career with Mirage Resorts in various senior management positions, including President and Chief Operating Officer of the Golden Nugget Laughlin, Executive Vice President and Chief Operating Officer of Treasure Island and Vice President of Hotel Operations for The Mirage, opening the hotel in 1989.
Mr. Hornbuckle is a graduate of the University of Nevada, Las Vegas and has a Bachelor of Science Degree in Hotel Administration. He serves on the Board of Trustees for Three Square Food Bank. He is also a Founder of the Bank of George, a local banking institution. Previously, Mr. Hornbuckle served on the boards for the University of Nevada, Las Vegas Foundation, and the Andre Agassi Foundation. From 1999 to 2003, he also served as a Board Member of the Las Vegas Convention and Visitors Authority.
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 29 unique hotel and destination gaming offerings in the United States and Macau, including some of the most recognizable resort brands in the industry such as Bellagio, MGM Grand, ARIA and Park MGM. The Company's 50/50 venture, ROAR Digital LLC, offers U.S. sports betting and online gaming through market-leading brands, including BetMGM and partypoker. 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" initiative, 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.
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. The Company has based these statements on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, the Company's expectations regarding the future of the Company and its industry. A number of important factors could cause actual results to differ materially from those indicated in such forward-looking statements, including the continued impact of the COVID-19 pandemic on the Company's business, effects of economic and market conditions in the markets in which the Company operates, competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, and risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in the Company's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports) filed with the Securities and Exchange Commission. In providing forward-looking statements, the Company 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.
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SOURCE MGM Resorts International
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