William Scott has resigned from the board of Macau casino operator MGM China Holdings Ltd and its United States-based parent MGM Resorts International after “the termination of his position” was mutually agreed between the executive and the group.
MGM China told the Hong Kong Stock Exchange on Friday that Mr Scott’s resignation took effect the same day. Mr Scott was an authorised representative of the company and under the stock exchange’s listing conditions, such officials must be part of the management team of the company.
The statement said Mr Scott had no disagreement with MGM China’s board. The announcement did not offer a reason for Mr Scott’s departure.
Last Thursday, MGM Resorts announced chief financial officer Dan D’Arrigo was leaving. The move also led to Mr D’Arrigo’s resignation from the board of MGM China. He will nonetheless stay with the MGM group for another month to ensure a smooth transition as his replacement is brought in.
MGM China, which owns and manages two casino resorts in Macau, has told Hong Kong’s stock exchange that MGM Resorts president Bill Hornbuckle is now an authorised person under the bourse’s rules.
Mr Scott had been a non-executive director and a member of the nomination and corporate governance committee of MGM China since March 16, 2011. He was the general manager of Diaoyutai MGM Hospitality, Ltd, a joint venture between MGM Resorts International and Diaoyutai State Guesthouse, the hospitality arm of the mainland Chinese government.
The mainland Chinese arm of MGM Resorts International, Diaoyutai MGM Hospitality opened in June the Bellagio Shanghai hotel, a 162-room non-gaming property.
MGM Resorts is hoping to add to its business in Asia by building a casino resort in Japan, and would like Osaka to be the location.
Mar 21, 2019The Japanese city and surrounding prefecture of Osaka are likely to make a decision on their development partners for a tilt at a casino resort by “this time next year”, said Jim Murren (pictured...
Mar 21, 2019
"We hope that the earnings power of that building [the Londoner], when we are finished, can rival that of the Venetian [Macao]"
Senior vice president of investor relations at casino operator Las Vegas Sands