Grant Bowie (pictured) is retiring as chief executive of Macau gaming operator MGM China Holdings Ltd with effect from May 31, the firm said in a Monday afternoon filing to the Hong Kong Stock Exchange. Mr Bowie joined the MGM group in August 2008, according to company information.
“Mr Bowie has decided not to extend his contract and elected to step down earlier to match with his personal retirement plans,” said the filing.
His age was given as 62 at the time of MGM China’s 2019 annual report filed in April this year. MGM China is controlled by U.S.-based casino operator MGM Resorts International.
Mr Bowie will remain as an executive director of MGM China for a “handover” period to be determined by the company. After that, he will continue to act as an advisor for a period up to December 31, 2022, added the announcement.
MGM China runs the MGM Macau resort in downtown Macau, and MGM Cotai in the city’s Cotai district. Mr Bowie steered the development and eventual launch of the latter property, which was in February 2018.
“Mr Bowie has confirmed that he has no disagreement with the board and there are no other matters in relation to his retirement… which need to be brought to the attention of the shareholders of the company,” noted the filing.
The document added Mr Bowie had “expressed his gratitude to the board, particularly Mr Bill Hornbuckle” the acting CEO of MGM Resorts, and “Ms Pansy Ho [Chiu King],” the co-chairperson and executive director of MGM China, as well as to the “company and MGM Resorts for this opportunity and their support over the years”.
The filing said Mr Bowie had additionally “expressed his appreciation of the entire MGM China team,” and had “much confidence that it will continue to take the company to great heights”.
The announcement further noted that the MGM China board wished to “express its sincere gratitude to Mr Bowie for his valuable contributions to the company during his tenure of service”.
Mr Bowie joined MGM China’s Macau concession-holding entity MGM Grand Paradise SA on August 1, 2008 as president. Prior to that, he was president and general manager of Wynn Resorts (Macau) SA from 2003 to 2007, according to his biography on the MGM China corporate website.
Apr 20, 2021The average nightly occupancy rate for Macau hotels – including properties in casino resorts – could reach “70 percent to 80 percent” during the upcoming Labour Day break in May,...
Budget for Genting Bhd's Resorts World Las Vegas, to open June 24