MGM Resorts Names Keith Meister New Board Member

MGM Resorts International, who recently hired Chris Kelley to oversee Rocksino operations, has welcomed another individual to the team. The company made an official announcement that it has decided to appoint Keith A. Meister to its Board of Directors. By doing so…

…MGM expanded the number of Board from 12 to 13.

Next-Wave of Investors

A hedge fund titan, Meister has been working for a while now as a managing partner and Chief Investment Officer of Corvex Management LB, which owns around 3% of MGM’s shares.

“We are pleased to invite Keith onto the Board as our newest independent director. As a significant shareholder in our company, we have been engaged in constructive dialogue over the last several months and 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,“ Jim Murren, Chairman and CEO of MGM Resorts commented.

“Keith’s strong track record of helping companies maximize value for shareholders as well as his experience in real estate and gaming will be invaluable as we continue to optimize our business and evolve as an organization. We look forward to having Keith on the Board and benefitting from his financial and strategic expertise as we work to build an even stronger company,” Murren added.

Rich Experience

Mr. Meister already has a wide range of boardroom experience, having already worked as a director on the boards of Yum! Brands Inc, The Williams Companies, The ADT Corporation, Ralcorp Holdings, Motorola Inc /Motorola Mobility Inc…

…and American Casino & Entertainment Properties, among others.

“I look forward to working constructively with Jim, the management team and the Board to help achieve our common goal of enhancing value for all shareholders. In my conversations with management and the Board over last several months, it is clear to me that 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,” Meister said in an official report.

About MGM Resorts

MGM’s Board of Directors has named four new directors since 2017, including Meister. The company always aims to have the top-notch and highly qualified experts as part of their istration, which is why all new are thoroughly evaluated.

This Las Vegas entertainment magnate wants to make sure each board member has appropriate skills, experience, and perspective necessary to maintain the high position the company gained on the market.

The company is a global entertainment brand with many national and international locations featuring high-class hotels and casinos, meeting and conference spaces, live and theatrical entertainment experiences and a wide range of restaurant, nightlife, and retail offerings.

The company owns 28 unique hotels including the new MGM Springfield hotel in Massachusetts, MGM COTAI in Macau, as well as the first Bellagio-branded hotel in Shanghai. MGM has around 81,000 employees and the company has recently been named one of the world’s ’Most ired’ companies by the famous, Fortune magazine.

Source:!

“MGM Resorts International Appoints Keith A. Meister to the Board of Directors“, prnewswire.com, January 17, 2019.