MGM Resorts International Promotes Three Key Executives at Strip Resorts
Don Thrasher Named President of Park Holdings, LLC, Eric Fitzgerald Named GM of Circus Circus Las Vegas and Ann Hoff Named GM of Excalibur
LAS VEGAS - September 29, 2014 - MGM Resorts International (NYSE: MGM) today announced the promotions of three top executives at major Las Vegas Strip operations. These promotions reflect the company's larger, more focused priorities in Las Vegas, the ongoing economic recovery of the casino resort industry, and the continual opportunity for executive advancement within MGM Resorts.
Don Thrasher, longtime President and Chief Operating Officer of Circus Circus Las Vegas and other Nevada regional operations, has been named as the first President of Park Holdings, LCC, a new entity whose first priority will be the execution of The Park, now under development between the Monte Carlo and New York-New York hotels. Mr. Thrasher will lead this important development effort, as well as its integration with the Las Vegas Arena and other nearby resorts. Park Holdings will then provide oversight of the continued revitalization of outdoor areas on the Las Vegas Strip.
Eric Fitzgerald has been named General Manager of Circus Circus Las Vegas. Formerly the Senior Vice President of Hotel Operations at Excalibur and Luxor, Mr. Fitzgerald joined the company in 2005 as Vice President of Hotel Operations at Excalibur. In 2009, he assumed the same duties for the Luxor resort, as well.
The Company also announced the promotion of Ann Hoff to General Manager of Excalibur Hotel and Casino. Ms. Hoff's move marks the creation of a new management team at the resort. In recent years, Excalibur functioned under a shared executive management team with Luxor. This team management operation succeeded through the hard work of many dedicated managers and employees. However, the decision has been made to revert to separate management teams to better exceed the expectations of customers at both resorts in this highly competitive marketplace.
"This is an exciting time for MGM Resorts as we grow and increase business at our resorts in Las Vegas, across the country, and around the world," said Corey Sanders, Chief Operating Office of MGM Resorts. "We are fortunate to possess a great wealth of talent in our organization, and nothing pleases me more than to reward success with new professional challenges. I have every confidence that Don, Eric and Ann will be welcomed by their new teams and will lead them to achieve great things."
Ms. Hoff leaves her previous position as Vice President of Operations at New York-New York, where she has served since 2005. Upon her graduation from the UNLV with a degree in Hotel and Restaurant Management, she was selected for the MGM Resorts Management Associate Program and has been quickly promoted through the ranks, holding positions at resorts in Biloxi, Miss., and Las Vegas. In 2011, she was recognized as one of 17 Women to Watch by the publication In Business Las Vegas.
Mr. Fitzgerald also has spent his entire professional career in the hospitality industry. He took his first position prior to college, serving as a lifeguard at the Las Vegas Hilton. After graduating from Arizona State University with a Finance degree, he followed his career to hotel positions in Los Angeles, San Francisco, Chicago and San Diego, before returning to Las Vegas and MGM Resorts.
In his previous position as President and Chief Operating Officer of Circus Circus Las Vegas, Mr. Thrasher also was responsible for overseeing operations at Circus Circus Reno, Gold Strike Jean, and Railroad Pass in Henderson. He will continue his oversight of the Reno and Jean operations in his new position.
Mr. Thrasher joined the Company in 1984, serving in posts including Vice President and General Manager of Circus Circus, Vice President and General Manager of the Edgewater Hotel and Casino in Laughlin (a former MGM Resorts property), and Assistant General Manager of Excalibur. Prior to joining MGM Resorts, Mr. Thrasher, a certified public accountant with an accounting degree from UNLV, worked for a national accounting firm, Laventhol & Horwath, where he provided tax and auditing services for the casino industry.
Mr. Sanders concluded, "Las Vegas is growing as a global destination, and our company and our amenities are changing to meet the needs of our customers. MGM is making significant investments in The Park, the Las Vegas Arena, and other new projects that allow us to offer our guests new experiences. Don Thrasher and his team will be on the leading edge of this trend, and we look to him to extend our reputation as the entertainment leader in the entertainment capital of the world."
Statements in this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve risks and/or uncertainties, including those described in MGM's public filings with the Securities and Exchange Commission. MGM has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements regarding the approval by the DGE, the Commission and the Chairman and the timing of such approvals. These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions in the markets in which MGM operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in MGM's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, MGM is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If MGM updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company also owns 51% of MGM China Holdings Limited, which owns the MGM Macau resort and casino and is in the process of developing a gaming resort in Cotai, and 50% of CityCenter in Las Vegas, which features ARIA resort and casino. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.
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