When the San Antonio Stars were bought by MGM Resorts then relocated to Las Vegas to become the Aces, many credit chairman and CEO Jim Murren with being a key piece in why the team moved made the move – and the avalanche of success it achieved since.
That figurehead will step down as he will depart from his post prior to the expiration of his contract. Murren’s pact with MGM Resorts International ran through the end of 2021 and he will stay in his current role until the naming of a success.
MGM announced it will work with a national headhunting firm to lead the find for a new CEO.
It has been an honor to work with such a talented group of men and women who provide millions of guests with memorable life experiences every day all over the world. We have a solid leadership team in place, and I am confident that they will work with my successor to continue the company’s trajectory of growth and expansion. Until my successor is named, I will continue to lead this company just as I always have, and will remain focused on executing our strategy and am fully committed to supporting a seamless transition.
–Jim Murren, outgoing CEO/chairman of MGM resorts International (per release)
Recently, the company has sold a number of its major Las Vegas properties – including Mandalay Bay and MGM Grand. That deal called for a joint venture of MGM Growth Properties and the Blackstone Group to operate the venues at a tune of $292 million annually.
MGM Growth Properties owns a majority stake in the venture with Blackstone claiming the remaining 49.9 percent. The deal is expected to be finalized by the end of March.
Murren has been with MGM Resorts since 1998 and has been its chairman and CEO since 2008.
Jim Murren internal communication about stepping down. pic.twitter.com/17xiCtp2Aa
— Vital Vegas (@VitalVegas) February 12, 2020
Bill Hornbuckle, the president of MGM Resorts International, was at the event where the Aces were introduced to Las Vegas. He credited Murren with being the one who stayed the course when there were doubts within MGM about bringing the former San Antonio Stars to Sin City.
Hornbuckle told a story at that event that he and Murren had a premonition that the Mandalay Bay Events Center – and Las Vegas itself – would be a pro sports town. Las Vegas has added the Aces, the NHL’s Golden Knights and the NFL’s Raiders – all in recent years.
Bill Laimbeer was at that same event and mentioned how Murren gave him a call about MGM’s planned buy and move. Laimbeer at the time was coaching a New York Liberty team going through a tumultuous period as Madison Square Garden at the time had the Liberty on the market and they were about to play the first of two seasons at Westchester County Center.
Murren wanted Laimbeer as his coach and he obliged. The Aces’ success since has been well pronounced as they were within two wins away of the WNBA Finals in 2019.
With Angel McCoughtry and Danielle Robinson now featured on a team that includes A’ja Wilson, Liz Cambage, Kayla McBride, Kelsey Plum, Carolyn Swords and others, it is no surprise that the Westgate Las Vegas Sportsbook has the Aces as favorites to claim the 2020 championship in its first odds recently released.
