MGM Resorts International has locked in Bill Hornbuckle as CEO and President through the end of 2028. The decision extends a leadership run that began during the COVID-19 period and continues through a time of global expansion and shifting business strategies.
Good to know
- Hornbuckle’s new contract runs through December 2028.
- He will remain as an advisor for MGM’s Osaka project after his term.
- MGM stock is down 21.68% over the past year despite strong 5-year returns.
The updated agreement also outlines Hornbuckle’s transition into an advisory position following his executive term. He will continue supporting MGM’s integrated resort project in Osaka, Japan, through its opening.
MGM Resorts Board Chairman Paul Salem praised Hornbuckle for helping the company navigate uncertainty and reposition itself for international growth. “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,” Salem said.
Hornbuckle responded by reaffirming his focus on expansion. “Our best days remain in front of us, and I’m thankful to our Board for their continued trust and support,” he said. He highlighted projects in Japan, New York, Brazil, and the Middle East as key growth areas.
Leadership, Expansion, and Market Pressure
Since stepping into the CEO role in 2020, Hornbuckle has overseen every aspect of MGM’s global operations, including digital gaming, resort development, and corporate strategy. He also serves on MGM’s Board and holds leadership positions at MGM China and the U.S. Travel Association.
Over the past five years, MGM Resorts has delivered a 106.61% return, outpacing both the MVIS Global Gaming Index and the S&P 500 by more than 13 percentage points. Yet more recent performance has raised concerns. Shares have dropped 21.68% in the past year, even as the S&P 500 gained over 9%. Some investors view the current valuation as too low and possibly disconnected from the company’s long-term potential.
During Hornbuckle’s tenure, MGM made several strategic moves. The $1.6 billion acquisition of the Cosmopolitan’s operations and the $450 million sale of the Gold Strike Hotel & Casino in Mississippi are part of an asset-light approach aimed at improving flexibility and capital efficiency.
Hornbuckle attributed the company’s success to a strong internal culture focused on customer experience and continuous improvement. “Our best days are ahead,” he said, signaling continued efforts to push into global and digital markets while maintaining investor focus.
The post MGM Locks In Bill Hornbuckle as CEO Through 2028 appeared first on iGaming.org.