MGM Resorts International has announced the appointment of current Chief Financial Officer and Treasurer Corey Sanders as its new Chief Operating Officer.
The 57-year-old, who previously served as COO for nine years from 2010 until March 2019, will also continue in his CFO and Treasurer roles until a replacement is hired in his place.
The transition follows a busy year for MGM Resorts in the face of the COVID-19 pandemic, as well as the departure of long-time Chairman and CEO Jim Murren and the sale of multiple Las Vegas Strip assets.
Since Bill Hornbuckle was appointed CEO and President in July, MGM has completed its second US$750 million notes offering of the year and sold off US$1.4 billion worth of shares in its REIT, MGM Growth Properties LLC (MGP), boosting the company’s available liquidity to US$5.9 billion.
It also sold MGM Grand earlier in the year, with the iconic Las Vegas Strip property that bears the company’s name and neighboring Mandalay Bay now held by a joint venture partnership between MGP and Blackstone Real Estate Income Trust. MGM currently owns 53% of MGP.
MGM Resorts also announced Friday that Atif Rafiq has stepped down as the company’s President – Commercial & Growth.
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