U.S. casino operator MGM Resorts International says it has appointed George Kliavkoff to serve as its president of entertainment and sports.
The group – parent of Macau casino operator MGM China Holdings Ltd – issued a statement on Thursday stating Mr Kliavkoff would be responsible for operations, finance, strategy, booking, marketing, sponsorships and ticketing for the 30 or more theatres, showrooms and arenas MGM Resorts runs.
The statement said Mr Kliavkoff would be based in Las Vegas, working under MGM Resorts’ group president, Bill Hornbuckle.
Mr Kliavkoff has more than 20 years of experience in his field, most recently as chief executive of virtual reality start-up Jaunt Inc, and before that as an executive of Hearst Entertainment and Syndication, at NBC Universal and Major League Baseball Advanced Media.
The MGM Resorts statement quoted Mr Hornbuckle noting Mr Kliavkoff would play an important role as the casino company built on existing successful partnerships and expanded the range of its sporting events and entertainment. “His innovative approach and knowledge in the entertainment and digital world will strengthen our reputation as a company that provides world-class experiences for our guests to enjoy,” Mr Hornbuckle stated.
Mr Hornbuckle added that MGM Resorts would maintain its business relationship with Mr Kliavkoff’s predecessor as president of entertainment and sports, Richard Sturm, by striking an exclusive three-year consulting deal with Mr Sturm’s new company, Las Vegas Live Entertainment and Sports. The deal entails Mr Sturm continuing to advise MGM Resorts and overseeing important relationships.
In addition to having interests in the Macau market, MGM Resorts is pursuing a Japan casino licence as that country sets about legalising such business.
In Macau, MGM China announced net revenue of US$561.4 million for the second quarter of this year compared to the same period last year, a 32.4-percent increase. MGM China Holdings says its operating income remained flat in the second quarter, with adjusted property earnings before interest, taxation, depreciation and amortisation up by about 0.8 percent, or growth of about US$1 million over the past 12 months.
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Direct taxes on gaming collected by the Macau government in full calendar year 2018