MGM RESORTS ANNOUNCES NEW EMPLOYMENT AGREEMENT WITH CEO & PRESIDENT BILL HORNBUCKLE

Rhea-AI Summary

MGM Resorts International (NYSE: MGM) has extended CEO & President Bill Hornbuckle's employment agreement through December 31, 2028. The new contract includes a subsequent advisory role focused on the Osaka, Japan integrated resort project. Under Hornbuckle's leadership, MGM has successfully navigated the COVID-19 pandemic while expanding through digital ventures, strategic M&A, and international market entry.

As CEO, Hornbuckle manages MGM's overall strategy, operations, and development projects, including digital gaming initiatives. He serves on MGM Resorts' Board of Directors, co-chairs MGM China Holdings' Board, and chairs the U.S. Travel Association. The company is currently pursuing expansion opportunities in New York, Japan, Brazil, and the Middle East.

Positive

• Contract extension provides leadership stability through 2028
• Successful navigation through COVID-19 pandemic demonstrates strong crisis management
• Strategic expansion into multiple international markets (New York, Japan, Brazil, Middle East)
• Continued focus on digital growth and strategic M&A opportunities

Negative

• None.

Insights

Corporate Governance Expert

MGM Resorts extends CEO Hornbuckle's contract through 2028 with subsequent Japan advisory role, signaling leadership stability during international expansion phase.

MGM's contract extension with CEO Bill Hornbuckle through 2028, plus a subsequent advisory role for the Osaka project, represents a significant commitment to leadership continuity during a pivotal expansion period. The 3.5+ year extension provides stability as the company pursues its growth strategy across both digital gaming and physical properties.

The board's decision signals strong confidence in Hornbuckle's leadership, particularly highlighted by Chairman Paul Salem's praise for his pandemic management and strategic positioning for growth. This vote of confidence suggests satisfaction with the current strategic direction focusing on digital ventures, M&A activities, and international expansion.

The specific provision for an advisory role focused on the Japan project after 2028 underscores the strategic importance of the Osaka integrated resort to MGM's long-term international growth plans. This arrangement ensures Hornbuckle's expertise remains available through the critical opening phase of what represents a significant investment in the highly regulated Japanese market.

The press release confirms MGM's continued commitment to geographic diversification with projects specifically mentioned in New York, Japan, Brazil, and the Middle East. This expansion beyond traditional gaming markets aligns with industry trends as operators seek growth opportunities in new jurisdictions with favorable regulatory environments.

Hornbuckle's dual leadership roles as Co-Chairman of MGM China Holdings and Chair of the U.S. Travel Association position him effectively to navigate both international expansion and domestic regulatory environments. These connections may provide valuable insights as MGM continues its global growth strategy.

LAS VEGAS, May 8, 2025 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today announced that it has reached a new employment agreement with CEO & President Bill Hornbuckle through December 31, 2028. As part of his new employment contract, the Company has also agreed to offer Hornbuckle an advisory agreement at the end of the term to assist with its integrated resort project in Osaka, Japan until its opening.

"Bill is an exceptional, visionary leader who successfully guided the company through the COVID-19 pandemic while also positioning the business for long-term growth through new digital ventures, strategic M&A opportunities, and expansion into new international markets," said Paul Salem, Chairman of the MGM Resorts Board of Directors. "Bill has earned the trust, respect and admiration of his employees, peers, shareholders and this Board. We're thrilled that he has agreed to remain in his role for the foreseeable future."

"I am honored to continue leading this company at an exciting time of both digital growth and resort expansion in places like New York, Japan, Brazil and the Middle East. Our best days remain in front of us, and I'm thankful to our Board for their continued trust and support," said Hornbuckle. "The success we've enjoyed over the last five years is a testament to our leadership team and our employees who have embraced our culture of guest-centricity and continuous improvement. Together, we will continue to pursue our vision to be the world's premiere gaming entertainment company."

As CEO, Hornbuckle oversees all aspects of MGM Resorts' strategy, operations and hospitality and gaming development projects. He leads the company's global development efforts and its digital gaming strategy. He is a member of MGM Resorts' Board of Directors and serves as Co-Chairman of the Board of Directors of MGM China Holdings, which operates resorts in Macau. He is also Chair of the U.S. Travel Association, a non-profit organization focused on growing travel and tourism to the United States, and he previously served as Chairman of the U.S. Travel and Tourism Advisory Board, which advises the U.S. Secretary of Commerce on policy, regulation, programs and issues that impact the travel and tourism industry in the United States.

ABOUT MGM RESORTS INTERNATIONAL
MGM Resorts International (NYSE: MGM) is an S&P 500® global gaming and 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 31 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 sports betting and online gaming in North America through market-leading brands, including BetMGM and partypoker, and the Company's subsidiary, LV Lion Holding Limited, 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 an integrated resort development in Japan. Through its Focused on What Matters 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 X 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 the Company's 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. The Company 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, the Company's expectations regarding the execution of its gaming and entertainment strategy. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise, and the Company may not be able to realize them. 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 economic and market conditions in the markets in which the Company operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, 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). 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. If the Company 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.

Contact:
media@mgmresorts.com 

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SOURCE MGM Resorts International

FAQ

How long is Bill Hornbuckle's new contract with MGM Resorts?

Bill Hornbuckle's new employment agreement with MGM Resorts extends through December 31, 2028, with an additional advisory role focused on the Osaka, Japan project thereafter.

What are MGM's expansion plans under Bill Hornbuckle's leadership?

MGM is pursuing expansion opportunities in New York, Japan, Brazil, and the Middle East, focusing on both digital growth and integrated resort development.

What positions does Bill Hornbuckle hold at MGM Resorts?

Bill Hornbuckle serves as CEO & President of MGM Resorts, sits on MGM Resorts' Board of Directors, co-chairs MGM China Holdings' Board, and chairs the U.S. Travel Association.

What has been Bill Hornbuckle's impact on MGM since becoming CEO?

Under Hornbuckle's leadership, MGM successfully navigated the COVID-19 pandemic while expanding through digital ventures, strategic M&A opportunities, and international market growth.