Veteran real estate industry executive John Kilroy resigned from the board of MGM Resorts International effective December 31.
In a filing with the Securities and Exchange Commission, MGM said Kilroy “indicated that his decision is based on his desire to pursue other interests now that the company has successfully accomplished its asset-light strategy.”
According to the Nevada Independent, Kilroy was part of the board committee established in 2015 that began the process of separating the casino giant’s operations from its real estate holdings. That process will reach its conclusion once the $17.2 billion sale of real estate investment trust MGM Growth Properties to rival REIT VICI Holdings is finalized early this year.
Kilroy is the founder, chairman and CEO of Los Angeles-based Kilroy Realty Corp., established in September 1996.