MGM's top boss, Bill Hornbuckle, clears up legality with an agreement extension for 2028.
MGM Resorts International's CEO, Bill Hornbuckle, has secured a contract extension, keeping him at the helm until the end of 2028. Following this period, Hornbuckle will transition into an advisory role, focusing on MGM's colossal $9 billion integrated resort project in Osaka, Japan, slated to open in 2030.
In an official statement, MGM confirmed that Hornbuckle's new employment contract will stretch until December 31, 2028. Although the company didn't specify a departure date for his CEO role, it mentioned that Hornbuckle will receive an advisory contract post-2028, tasked with supporting the Osaka project until its launch[1][4][5].
The positive vibes surrounding Hornbuckle's leadership have been echoed by MGM's President, Paul Salem, who praised the CEO for navigating the company through the COVID-19 pandemic, positioning the business for long-term growth, and driving strategic expansions in digital ventures, M&A opportunities, and international markets such as New York, Japan, Brazil, and the Middle East[1][3].
Hornbuckle shared his enthusiasm, expressing his eagerness to continue steering MGM through an era of digital growth and expansion across various locations. In his words, "Our best days are still ahead, and I'm genuinely grateful for the continued trust and support from our Board"[1].
In other MGM-related news, the company showcased solid first-quarter 2025 financial results. Despite a 2% decrease in consolidated net revenues compared to the previous year, MGM's core operations remained robust, while its digital strategy and shareholder returns continued to gain traction[2].
Recently, MGM agreed to pay an $8.5 million penalty to the Nevada Gaming Control Board (NGCB) due to lapses in reporting illegal betting activities by bookies Wayne Nix and Mathew Bowyer. The NGCB levied the fine following compliance failures involving MGM Grand and Cosmopolitan teams in Las Vegas[3].
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[1] MGM CEO Bill Hornbuckle's Contract Extended to 2028[2] MGM Reports Solid Financial Results for First Quarter 2025[3] MGM Pays $8.5 Million Penalty for Compliance Failures[4] $9 Billion Integrated Resort Project in Osaka, Japan[5] MGM Resorts' Focus on Growth and Digital Ventures under Hornbuckle's Leadership
- Bill Hornbuckle, MGM Resorts International's CEO, will continue to lead the company until the end of 2028, as per his contract extension.
- Hornbuckle will transition into an advisory role post-2028, focusing on MGM's $9 billion integrated resort project in Osaka, Japan.
- The company has agreed to a financial penalty of $8.5 million to the Nevada Gaming Control Board for lapses in reporting illegal betting activities.
- In the first quarter of 2025, MGM displayed solid financial results amid a 2% decrease in consolidated net revenues.
- Hornbuckle, working with his team, will strive to achieve growth and digital ventures to position MGM for long-term success.
