Retail

MGM Resorts Appoints Acting Chief Executive Officer

MGM Resorts

Amid the public health crisis in the country and the travel vertical, MGM Resorts International said in an announcement that Chief Operating Officer and President Bill Hornbuckle has been appointed to the position of acting chief executive officer and president. Hornbuckle replaces Jim Murren, the outgoing chairman and CEO. Paul Salem will be replacing Murren as chair of the board of directors.

MGM Resorts Board of Directors Chairman Paul Salem said in the announcement, “We believe continued steady, skilled leadership is needed in this time of great upheaval and uncertainty. Bill is one of the most experienced operators in the business and we have confidence in his ability to bring this company back online.”

Hornbuckle is a “four-decade veteran of the gaming industry” per the announcement and is currently a board of director as well as an executive committee member of MGM China Holdings with resorts and business in Macau. Hornbuckle is a University of Nevada, Las Vegas graduate and holds a bachelor of science degree in hotel administration.

He also served as a Las Vegas Convention and Visitors Authority board member from 1999 to 2003. He is a Bank of George founder and serves on the Three Square Food Bank’s food of trustees. He has also served on the Andre Agassi Foundation and University of Nevada, Las Vegas Foundation boards.

Salem is a member of the MGM Resorts Board of Directors and MGM Resorts real estate committee chair. He is a Providence Equity Partners senior managing director emeritus.

He had served for 27 years as a senior managing director on the investment team of Providence and as a member of the investment committee as well as management committees that assisted in the growth of Providence Equity to more than $50 billion in assets from $171 million in assets during his years of service.

The portfolio of MGM Resorts includes 29 hotel and destination gaming offerings, with hotels as well as casinos in addition to meetings and conference spaces.

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