MGM Resorts International has announced that it has reached an agreement with its Chief Executive Officer (CEO) and President, Bill Hornbuckle, to extend his contract through the end of 2028. After the period, he will move into an advisory role to assist MGM’s ambitious $9 billion integrated resort (IR) project’s pre-opening phase in Osaka, Japan. The IR is scheduled to open in 2030.
, MGM confirmed that Hornbuckle’s new employment contract will run through December 31, 2028. However, it did not explicitly state he would step down from the CEO role at that time. It said, “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.”
Official comments
MGM Resorts chairman Paul Salem said, “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.
“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.”
Hornbuckle added, “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. 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.”
Q1 2025 figures
In early May, MGM reported solid financial results for the first quarter of 2025, showcasing strength in core operations while advancing its digital strategy and shareholder returns. For the quarter ended 31 March 2025, MGM of $4.3 billion, a 2 percent decline from $4.38 billion a year ago, attributed to lower revenues from Las Vegas Strip resorts and MGM China. Net income attributable to MGM fell to $149 million, down from $217 million in Q1 2024.
Last month, the company agreed to pay an $8.5 million settlement to the Nevada Gaming Control Board (NGCB) for failing to report the gambling activity of illegal bookmakers Wayne Nix and Mathew Bowyer. The NGCB filed a stipulation for settlement on 17 April, citing multiple compliance failures involving staff at the MGM Grand and Cosmopolitan in Las Vegas.
