MGM Mirage made a few changes in the executive suite which they announced today.
First off, the extremely capable Jim Murren has been promoted to President and COO of the company (from President, CFO, and Treasurer). Murren came from Wall Street and is probably the most responsible for MGM Mirage being a model for other gaming companies to follow, especially when talking about reporting. Murren will also oversee all properties except for those that are part of the 'City Center Campus'.
Bobby Baldwin has been moved into a new position - Chief Design and Construction Officer. He'll oversee all new construction and capital improvements in the US. He also will oversee the 'City Center Campus', which includes City Center, Monte Carlo and Bellagio.
Lastly, Dan D'Arrigo has been promoted to EVP and CFO.
All of these positions report to Terri Lanni, the company's Chairman and CEO. Additionally, John Redmond, who had been running the properties formerly in the MGM family, including MGM Grand and NYNY has resigned as planned.
http://phx.corporate-ir.net/phoenix.zhtml?c=101502&p=irol-newsArticle&t=Regular&id=1042568&
Unrelated, Harrah's has scheduled an announcement for tomorrow regarding entertainment changes at their resorts in Las Vegas.
Tagged: atlantic city, bellagio, casino design, gaming industry, harrahs, las vegas, lasvegas, macau, mgm mirage, project citycenter, vegas
Comments
I just heard about this Harrah's press meeting, I am hopeful, and shocked. I hope they announce major plans for Las Vegas. If they don't do something major, they will die in Vegas with all the new properties coming down the pipe. But, I didn't figure they could come up with more cash to do much. I am excited to hear what they have to say. Lets keep our fingers crossed!
The press release from Harrah's says it is entertainment related so I'm not expecting any building plans.
Whatever it may turn out to be, I'm setting my expectations pretty low. Harrah's has never "wow"ed me. They always seem to come in below most people's expectations and, in my view, they are only really good at fostering player loyalty.
Honestly, if it's entertainment related, it's going to be the announcement that Cher will be performing at Caesars. If so, big deal. We all knew this was coming. We've all heard the rumors and now they're just going to make it public. Of course, the best case scenario would be that Harrah's announces a plan that is twice as ambitious and twice as extravagant as CityCenter. Of course, considering Harrah's track record, as I mentioned above, it's going to be lackluster whatever it turns out to be.
Looks like the Harrah's announcement is going to be an arena behind Bally's and Paris:
Rumor has it that MGM-Mirage is going to shuffle some of it's top guys at each property as well.
Anyway in Harrah's news http://www.lvrj.com/breaking_news/9313606.html
They're building an arena behind Paris & Bally's!!
on August 22, 2007 12:17 PMWhat's with the expected resignation of John Redmond? Any specific reasons?
Jeff Simpson offers some insights on MGM's management changes in the LV Sun:
http://www.lasvegassun.com/sunbin/stories/consumer/2007/aug/26/566675468.html
on August 26, 2007 6:01 AMPhil Hevener, in the latest issue of Gaming Today, is quoting an anonymous source who called to say that Baldwin will resign.
on August 28, 2007 1:30 PMWow, that would be a pretty big deal...
Would Baldwin go to Wynn Resorts? One of the new upstarts? Leave the industry?
I bet Baldwin will rejoin Wynn. When MGM took over Mirage Resorts, it gave Baldwin an astronomical sum to stay and head up the Mirage Resorts component. Now, MGM has moved on, and I believe Baldwin would do better in an old fashioned casino/gaming environment. Wynn will need more expertise especially if it expands into Japan at some point:
http://www.gamingtoday.com/index.cfm?articleid=19406&AIN=815052
Michigan must be good experience for MGM execs. Daniel Wade was MGM Detroit's first COO when it opened in 1999, and Jay Dee Clayton who ran the casino now runs Wynn Macau's casino.
on August 28, 2007 3:04 PMPost a Comment
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