U.S.-based casino operator MGM Resorts International announced on Monday the appointment of Aaron Fischer (pictured) as chief strategy officer.
Prior to joining MGM Resorts in 2016 as senior vice president of corporate development, Mr Fischer was head of consumer and gaming research at CLSA, a brokerage and investment group based in Hong Kong. During his 17 years as an equity analyst he specialised in emerging gaming markets – including Macau and Japan – and the global luxury goods sector.
MGM Resorts said in its Monday release that Mr Fischer would relocate from Hong Kong – where he was currently based – to the company’s corporate headquarters in Las Vegas, Nevada.
As chief strategy officer, Mr Fischer “will be responsible for leading MGM Resorts’ enterprise-wide strategic planning process to include both a focus on operations and… global development,” the release stated.
It added: “Mr Fischer will play a leading role in communicating the company’s strategy to key partners and stakeholders, including helping to shape the investor relations strategy.”
MGM Resorts is the parent company of Macau-based MGM China Holdings Ltd. The latter firm is currently building its second casino property in Macau: the MGM Cotai casino resort is scheduled to open in the second half of 2017.
MGM Resorts is also interested in bidding for a gaming business in Japan. The company had declared itself a candidate for a Japanese casino gaming licence long before lawmakers in that country passed on December 14 a bill to legalise such business.
Commenting on Mr Fischer’s new appointment, Corey Sanders, chief operating officer of MGM Resorts, said: “The addition of a chief strategy officer will further our ability to deliver strong financial results, drive disciplined growth, and accelerate the achievement of our ongoing performance improvement objectives.”
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“We expect Las Vegas Sands to not have any material change in strategy. The focus remains developing Macau and Singapore”
Vitaly Umansky, Kelsey Zhu and Tianjiao Yu
Analysts at brokerage Sanford C. Bernstein