The board of directors of MGM Resorts International announced July 29 that William J. (Bill) Hornbuckle has been elected as president and CEO, effective immediately. Hornbuckle had served as acting CEO and president since March 2020, when former Chairman and CEO Jim Murren stepped down.
Hornbuckle was also appointed to serve on the company’s board.
“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.”
Hornbuckle issued a statement saying, “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.
“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.”
A gaming industry veteran, Hornbuckle was most recently 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 a member of the Las Vegas Stadium Authority Board of Directors.
He was previously chief marketing officer of MGM Resorts, serving from 2009 until 2012. Before that, he spent four years as president and chief operating officer of Mandalay Bay Resort & Casino. He previously had served as president and COO of MGM Resorts International-Europe, where he worked on the development of the company’s gaming operations in the U.K. He also served as president and COO of MGM Grand Las Vegas from 1998 to 2001.
Hornbuckle’s early experience includes a term as president and COO of Caesars Palace in Las Vegas. He spent the majority of his career with Mirage Resorts in various senior management positions, including president and COO of the Golden Nugget Laughlin, executive vice President and COO of Treasure Island, and vice president of hotel operations for the Mirage, opening the hotel in 1989.
Hornbuckle is a graduate of the University of Nevada, Las Vegas with a BS in hotel administration.
Due to the impact of Covid-19, MGM recently informed a large majority of its entertainment and sports division employees Monday that they will be laid off effective August 31, with their benefits suspended as of September 1.
In a July 27 email, MGM President of Entertainment and Sports George Kliavkoff wrote that, when the company’s hotel-casinos first shut down in March, company executives “were hopeful our closure would be brief.” But conditions have forced the company to cut costs, and the resumption of entertainment may be especially challenging, given state laws that limit gatherings to 50 people, along with social-distancing policies.
Kliavkoff added that, “We remain committed to reopening all of our entertainment venues when it’s safe to do so and our plan is to call back as many of our division’s employees as possible, as quickly as we can. The decision about when to reinstate entertainment at our properties will continue to be drive by health and safety mandates and guidelines established by government agencies and by business demand.”
The announcement also says employees can seek support for everyday expenses, such as rent, mortgage, groceries and utilities, through the $14 million employee Emergency Grant Fund. Those laid off are eligible to request grants through Nov. 29. MGM Resorts has distributed more than $11 million in grant payments since the COVID shutdown.
