• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

MGM Resorts names investor Keith Meister to board

Jan 18, 2019 Newsdesk Industry Talk, Latest News, Top of the deck  


MGM Resorts names investor Keith Meister to board

MGM Resorts International, a United States-based operator of casinos both there and in Asia, has appointed a new director: Corvex Management LP managing partner and chief investment officer Keith Meister. Corvex Management owns about 3 percent of MGM Resorts’ stock.

MGM Resorts issued a written statement on Thursday saying Mr Meister would take his seat on the board from Friday (January 18).

He has served as a director of fast-food company Yum! Brands Inc, The Williams Companies, The ADT Corp, Ralcorp Holdings Inc, Motorola Inc and Motorola Mobility Inc, and American Casino and Entertainment Properties LLC.

Of Mr Meister’s experience, MGM Resorts chairman and chief executive Jim Murren said: “[We] are aligned on our strategy to increase free cash flow, continue to pursue an asset-light model, drive margin improvement and position the company for long-term future growth. Keith’s strong track record of helping companies maximise value for shareholders as well as his experience in real estate and gaming will be invaluable.”

The company said recently it expected its MGM 2020 rationalisation plan to lead to a US$200-million boost to adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) next year and a US$100-million increase in the same metric the year after. The programme is based on labour cost savings, streamlined sourcing, revenue optimisation and a digital transformation of the company’s operations.

Since 2017, MGM Resorts has appointed four new independent directors, including Mr Meister, bringing the number of seats on the board to 13, 11 of them filled by independent members.

“MGM is focused on driving profitable growth, and, with my experience in the gaming industry and other similarly situated companies, I can be helpful in amplifying these efforts. I expect to be a long- term investor in MGM as we work collaboratively to build an even greater company,” Mr Meister said in prepared comments included in MGM Resorts’ release.

MGM Resorts is the parent company of Macau casino operator MGM China Holdings Ltd, and has ambitions to be a pioneer of the casino industry in Japan.

MGM Resorts recently announced a former governor of the U.S. state of Nevada, Brian Sandoval, would become the company’s president of global gaming development. Mr Sandoval’s role will have a heavy emphasis on the expansion plans in Japan. His appointment was announced on January 9, a day after he officially left his governorship role.


  • tweet
Related articles
  • Nagasaki says Credit Suisse woes not to impact IR plan
    Nagasaki says Credit Suisse woes not to...

    Mar 20, 2023  

  • Macau ops to submit 2023 invest plans to govt this month
    Macau ops to submit 2023 invest plans...

    Mar 07, 2023  

More news
  • Pagcor mulls pure regulator role via US$1.5bln casinos sale
    Pagcor mulls pure regulator role via...

    Mar 21, 2023  

  • Macau ops getting overseas visitors via private jets: report
    Macau ops getting overseas visitors via...

    Mar 21, 2023  


Latest News

Pagcor mulls pure regulator role via US$1.5bln casinos sale

Pagcor mulls pure regulator role via US$1.5bln casinos sale

Mar 21, 2023  

The Philippines is looking to raise circa PHP80 billion (US$1.47 billion) from the sale of its network of small, state-owned casinos, said on Tuesday the head of the country’s regulator the...
Read More
Macau ops getting overseas visitors via private jets: report

Macau ops getting overseas visitors via private jets:

Mar 21, 2023  

Crane gets US$1.65bln financing to support biz split

Crane gets US$1.65bln financing to support biz split

Mar 21, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The [Macau] month-to-date run-rate represents an approximately 45-percent recovery versus pre-Covid-19 levels for headline gross gaming revenue”

DS Kim and Mufan Shi

Analysts at brokerage JP Morgan Securities



Most Popular

  • Universal Ent seeks to end SPAC deal for Okada Manila listingUniversal Ent seeks to end SPAC deal for Okada Manila… March 20, 2023
  • Macau GGR for March 1 to 19 at US$845mln: JP MorganMacau GGR for March 1 to 19 at US$845mln: JP Morgan March 20, 2023
  • Let’s Win hosts grand opening for club at Hoiana in VietnamLet’s Win hosts grand opening for club at Hoiana in… March 20, 2023
  • SJM Holdings to sponsor Macao Golf Open for next 3 yearsSJM Holdings to sponsor Macao Golf Open for next 3 years March 21, 2023
  • Macau ops getting overseas visitors via private jets: reportMacau ops getting overseas visitors via private jets: report March 21, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us