MGM Resorts chairman and CEO Jim Murren has advised the corporate’s board that he’s stepping down, previous to his contract ending, the corporate introduced Wednesday.
He’ll serve in his position till a successor is appointed, it stated. Murren has been CEO since 2008, and he has been with the on line casino operator since 1998.
MGM shares shot up greater than 7% in after-hours buying and selling on the information, however the inventory was final up about 4%. MGM has a market worth of about $17.three billion, and its inventory has climbed about 17% over the previous 12 months.
MGM stated its board has fashioned a committee of unbiased administrators to seek for a alternative.
The U.S. on line casino operator additionally withdrew its monetary forecast for 2020, because it assesses how the coronavirus epidemic will impression operations.
Rich Chinese language patronage at Macau and Las Vegas make up a great chunk of enterprise and the virus has clamped down journey and closed corporations throughout China.
MGM stated it suspended operations at its two properties in Macau for a government-mandated…