MGM Resorts extends CEO Bill Hornbuckle’s contract through 2028

MGM Resorts International has extended CEO and President Bill Hornbuckle’s contract through December 31, 2028. 

The updated contract also includes an advisory role for Hornbuckle following the end of his term, specifically to support MGM’s integrated resort development in Osaka, Japan, until its scheduled opening.

"Bill is an exceptional, visionary leader who successfully guided the company through the COVID-19 pandemic while also positioning the business for long-term growth through new digital ventures, strategic M&A opportunities, and expansion into new international markets," said Paul Salem, Chairman of the MGM Resorts Board of Directors.

"Bill has earned the trust, respect and admiration of his employees, peers, shareholders and this Board,” he added.

Hornbuckle said he’s committed to driving MGM’s growth in New York, Japan, Brazil, and the Middle East. “Our best days remain in front of us, and I’m thankful to our Board for their continued trust and support.”

He added that the company’s success over the past five years is a reflection of its strong leadership and employee commitment to guest-centricity and continuous improvement.

Hornbuckle has served as MGM Resorts’ CEO since 2020 and is responsible for overseeing all aspects of the company’s global strategy, operations, and development projects, including its digital gaming initiatives. He also sits on the company’s Board of Directors and serves as Co-Chairman of MGM China Holdings, which manages properties in Macau. Additionally, Hornbuckle is Chair of the U.S. Travel Association and previously led the U.S. Travel and Tourism Advisory Board.

MGM Resorts has delivered a 106.61% return over the past five years, significantly outperforming the MVIS Global Gaming Index and surpassing the S&P 500 by more than 13 percentage points, as per a report by Casino.org.

However, performance has faltered recently. The stock is down 21.68% over the past year, while the S&P 500 is up 9.39%. Although major investors haven’t openly criticized Hornbuckle, some believe the stock is undervalued and trading at a level too low to ignore.

Since taking over, Hornbuckle has helped stabilize MGM post-COVID, advancing its asset-light strategy and executing key deals, including the $1.6 billion acquisition of operating rights to the Cosmopolitan in 2022 and the $450 million sale of the Gold Strike Hotel & Casino in Mississippi later that year.

Morningstar analyst Dan Wasiolek noted that while MGM may not have a strong competitive moat, its consistent performance in managing top-tier integrated resorts has played a key role in securing major regulatory approvals. These include one of only three gaming licenses granted in Massachusetts, expansion opportunities in Macau’s Cotai district, and the green light for a new resort development in Japan set to open in 2030.