Bill Hornbuckle
MGM Completes Acquisition of Cosmopolitan’s Operations

MGM Resorts International announced the closing of its transaction with Blackstone to acquire the operations of The Cosmopolitan of Las Vegas (The Cosmopolitan) for cash consideration of $1.625 billion. With the closing of the transaction, The Cosmopolitan officially joins MGM Resorts’ roster of iconic brands along the Las Vegas Strip.
“This is a big moment for our company and for the Las Vegas Strip. The Cosmopolitan of Las Vegas has already established itself as one of the Strip’s premier resorts with an iconic brand, well-curated experiences and a loyal customer base. We couldn’t be more excited to bring them into our portfolio of world-class operations. We’re also thrilled to have the talented group of CoStars from The Cosmopolitan joining the MGM Resorts family. We look forward to improving upon The Cosmopolitan’s already strong results by offering their customers access to the extensive and exclusive amenities and other benefits only MGM Resorts can provide,” Bill Hornbuckle, CEO and President of MGM Resorts, said.
The Cosmopolitan, a leading contemporary luxury resort and casino, opened in December 2010 and underwent significant capital improvements following Blackstone’s acquisition of the property in 2014. The property features:
- 3033 rooms and suites that were renovated in December of 2018, most of which feature terraces overlooking the famed Las Vegas Strip,
- a 110,000 square-foot casino, with high-end gaming areas for VIP guests,
- 26 on-trend food and beverage offerings, with 19 new concepts introduced in the last four years,
- a 3200-seat theater (The Chelsea),
- Marquee nightclub and dayclub that hosts top DJs from around the world,
- 243,000 square feet of centrally located meeting space, featuring state-of-the-art technology to accommodate both large and small groups,
- 36,000 square feet of leased retail space, and
- a 43,000 square foot spa and fitness facility.
MGM Resorts entered into a 30-year lease agreement, with three 10-year renewal options, with a partnership among Stonepeak, Cherng Family Trust and Blackstone Real Estate Income Trust (BREIT), which acquired The Cosmopolitan’s real estate assets. MGM Resorts will pay an initial annual rent of $200 million, escalating annually at 2% for the first 15 years and the greater of 2% or the CPI increase (capped at 3%) thereafter.
Powered by WPeMatico
Bill Hornbuckle
MGM Resorts International COO Corey Sanders to Retire After More Than 30 Years of Service

MGM Resorts International announced that Corey Sanders, Chief Operating Officer, will retire from the company after more than 30 years of dedicated service and leadership. Sanders has agreed to remain COO through Dec. 31, 2025, and to serve as an advisor to the President and CEO through Dec. 31, 2026. The Company intends to name a new COO to serve as Sanders’ successor later this month.
“It’s impossible to overstate what Corey has meant to this Company over the last 30-plus years. He has been a constant presence, providing foundational leadership for all the key moments that have defined our history – from our acquisitions of Mirage Group and Mandalay Resort Group to our regional property openings and expansions like Springfield, National Harbor, Empire City and Borgata. More importantly, Corey helped us put all the different pieces together to create one company and one culture. As a leader and as a person, Corey understood the importance of caring for employees and treating people with respect. He will be deeply missed,” said Bill Hornbuckle, President & CEO of MGM Resorts.
Sanders is currently MGM Resorts’ Chief Operating Officer, overseeing the company’s Las Vegas and regional properties as well as multiple corporate departments, including Hospitality, Gaming, Human Resources and Strategic Initiatives. Prior to that, he served as the company’s Chief Financial Officer and Treasurer. In his tenure with MGM Resorts, Sanders has also served as Chief Operating Officer for the company’s Core Brands, Executive Vice President of Operations for MGM MIRAGE, Executive Vice President and Chief Financial Officer for MGM Grand Resorts, Executive Vice President and CFO for MGM Grand, Assistant Vice President of Corporate Finance and Tax Director for MGM Grand.
The post MGM Resorts International COO Corey Sanders to Retire After More Than 30 Years of Service appeared first on Gaming and Gambling Industry in the Americas.
Bill Hornbuckle
MGM Resorts Announces New Employment Agreement with CEO & President Bill Hornbuckle

MGM Resorts announced that it has reached a new employment agreement with CEO & President Bill Hornbuckle through December 31, 2028. 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.
“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,” said Paul Salem, Chairman of the MGM Resorts Board of Directors.
“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,” said Hornbuckle.
As CEO, Hornbuckle oversees all aspects of MGM Resorts’ strategy, operations and hospitality and gaming development projects. He leads the company’s global development efforts and its digital gaming strategy. He is a member of MGM Resorts’ Board of Directors and serves as Co-Chairman of the Board of Directors of MGM China Holdings, which operates resorts in Macau. He is also Chair of the U.S. Travel Association, a non-profit organization focused on growing travel and tourism to the United States, and he previously served as Chairman of the U.S. Travel and Tourism Advisory Board, which advises the U.S. Secretary of Commerce on policy, regulation, programs and issues that impact the travel and tourism industry in the US.
The post MGM Resorts Announces New Employment Agreement with CEO & President Bill Hornbuckle appeared first on Gaming and Gambling Industry in the Americas.
Bill Hornbuckle
MGM Resorts Appoints Donna Langley to its Board of Directors

MGM Resorts International has appointed Dame Donna Langley, Chairman of NBCUniversal Entertainment & Studios, to the Company’s Board of Directors. Langley becomes the 13th member of the board.
Langley leads greenlight decisions across NBCUniversal with full oversight of all entertainment programming and marketing across Peacock, Bravo, and NBC, including primetime and late night. She continues to spearhead global creative strategy, business operations, production, acquisitions, and distribution for the portfolio of award-winning Film and Television Studios.
“Donna will be a tremendous asset to the board and to the Company as it continues pursuing its vision to be the world’s premiere gaming entertainment company. Her entertainment background and experience, especially in areas like content strategy, programming, distribution and marketing, will be invaluable as she offers her guidance to the Company and its leaders,” Paul Salem, Chair of the MGM Resorts board of directors, said.
MGM Resorts CEO & President Bill Hornbuckle said: “We welcome Donna to our board and look forward to leveraging her deep and valuable experience in the entertainment space as we continue developing and producing our own proprietary sports and entertainment content for our guests. Donna is globally recognized as an innovative and influential leader with a special skill for reshaping industries, invigorating brands and leading organizations through change. She will be a tremendous asset to our executive team at MGM Resorts.”
“MGM Resorts is the global leader across gaming, hospitality and live entertainment. Joining their board as they continue to ideate and innovate on best-in-class experiences for multi-generational audiences is an exciting challenge I’m delighted to take on with my fellow board members and the incredible management team,” Langley said.
The post MGM Resorts Appoints Donna Langley to its Board of Directors appeared first on Gaming and Gambling Industry in the Americas.
-
eSports6 days ago
TEAM VITALITY AND HUMMEL LAUNCH ALTERNATE JERSEY AND EXCLUSIVE APPAREL COLLECTION
-
Africa7 days ago
Rise & Hustle partners with Altenar to power its new sportsbook offering
-
EurAsia7 days ago
Groove Technologies Shines in Georgia at SmartSoft Partner Event: Culture, Connection, and Collaboration Take Centre Stage
-
Africa7 days ago
Ghana’s NLA Introduces New Sticker to Clamp Down on Illegal Lotto Operators
-
Eastern Europe6 days ago
Digitain Strengthens Romanian Market Presence Through KingCasino Partnership
-
Central Europe7 days ago
CT Interactive Announces Strategic Partnership with Ecasino
-
Alex Malchenko Head of Sales at Evoplay7 days ago
Evoplay strengthens Ontario presence in partnership with Caesars Entertainment
-
Central Europe6 days ago
CT Interactive grows its certified game portfolio in the Slovak market