MGM Resorts appoints new CEO
Bill Hornbuckle takes charge as former chief executive cuts contract short
MGM Resorts has appointed COO and president Bill Hornbuckle as the operator’s acting CEO to replace long-standing chief exec Jim Murren.
Murren announced his decision to step down in February, although he has chosen to cut his contract short to ensure continuity of leadership for the company during the Covid-19 pandemic.
Hornbuckle has been with MGM for more than 20 years, having spent time as COO of the firm’s MGM Grand Las Vegas.
He then served as president and COO for the operator’s International-Europe business, and also as CMO of the parent company.
He previously worked as COO for Caesars Palace and as president and COO at the Golden Nugget Laughlin.
MGM board member Paul Salem will replace Murren as chair of the board.
On Hornbuckle’s promotion, Salem said: “The nation is facing an unprecedented crisis, causing the travel and hospitality industry to grind to a near halt.
“It is clear that once the threat to the public health has subsided and we are ready to reopen our resorts and casinos, it will take an incredible effort to ramp back up.”
Hornbuckle added: “We have an incredible challenge ahead. We have a talented leadership team, the best employees in the world, and a loyal customer base. I have every confidence that MGM Resorts will remain the global entertainment leader once this crisis is contained and it is safe to operate.”
According to the American Gaming Association, up to 92% of US casino properties have closed as a result of the coronavirus pandemic.
The Las Vegas Strip was ordered to shut down entirely for 30 days as of last week.